The Corr Volume Weighted MA Signal indicator for Metatrader 5 uses a moving average + volume to identify the best Forex trends for any pair.
It looks similar to the Corr DEMA indicator version.
How does it work?
- A green signal line indicates that the trend is heading upward.
- A red signal line indicates that the trend is heading downward.
The indicator contains the following inputs and parameters: VWMA period, volume to use, price, correction period, color change, floating levels period, upper level %, lower level %.
Tip: Utilize the Corr Volume Weighted MA Signal indicator during the most volatile sessions for scalping the 1-minute and 5-minute trading charts.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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Corr volume weighted MA.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Corr Volume Weighted MA Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Corr Volume Weighted MA Signal Forex Indicator?
Find a simple trading example below:
Buy Signal
- The appearance of the green colored signal line is a buy signal.
- Open a buy trade and place your stop loss order below the gray colored cloud.
- Exit the buy trade for a fixed take profit target or wait for a sell signal.
Sell Signal
- The appearance of the red colored signal line is a sell signal.
- Open a sell trade and place your stop loss order above the gray colored cloud.
- Exit the sell trade for a fixed take profit target, or wait for a buy signal.
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Corr volume weighted MA.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Corr volume weighted MA.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration