The Day Impulse Signal indicator for Metatrader 5 is an oscillator that can be used for buy/sell trade entry signals in any market condition.
The indicator pops up in a bottom chart as a green colored line that oscillates above and below zero.
The Day Impulse Signal indicator performs the best for scalpers and intraday traders.
How to interpret this technical tool?
- The green oscillator line above zero indicates a buy trend.
- The green oscillator line below zero indicates a sell trend.
The following indicator inputs and parameters can be modified: averaging period (14), color, style.
The Day Impulse Signal indicator works for Forex, Stocks, Indices, Metals, etc.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the Day Impulse Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Day Impulse Forex Signal Indicator?
Find a simple trading example below:
- A buy signal occurs when the Day Impulse Signal line crosses the zero level bottom-up.
- Execute a buy order and place a stop loss order below the previous swing low price.
- Close the buy trade for a fixed take profit target or hold the trade until the green line crosses back below zero.
- A sell signal occurs when the Day Impulse Signal line crosses the zero level top-down.
- Execute a sell order and place a stop loss order above the previous swing high price.
- Close the sell trade for a fixed take profit target or hold the trade until the green line crosses back above zero.
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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 DayImpuls.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