As the name suggests, the Candle Forex Day Trader Signal indicator for Metatrader 5 delivers solid buy & sell signals for day traders.
The indicator is displayed as violet and blue colored candles that appear somewhat above and below the actual candlesticks.
Trading with this day trader indicator is utterly simple and profitable if used correctly.
How to spot market trends with the Candle indicator?
- A blue colored candle suggests a bullish trend.
- A violet colored candle suggests a bearish trend.
The following indicator inputs and parameters can be modified: FTMA, rank 1, rank 2, rank 3, shift 1, shift 2, shift 3, and colors.
The Candle Forex Day Trader Signal indicator works out of the box and delivers the best results when used in the London and New York trading sessions.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
Free Download
FineTuningMACandle.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Candle Forex Day Trader Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Candle Forex Day Trader Signal Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given when the first blue colored candle gets displayed on the chart.
- Open a buy order and place your stop loss slightly below the blue colored candle.
- Close the buy trade for a fixed take profit target, or wait for the first violet colored candle.
Sell Signal
- A sell signal is given when the first violet colored candle gets displayed on the chart.
- Open a sell order and place your stop loss slightly above the violet colored candle.
- Close the sell trade for a fixed take profit target, or wait for the first blue colored candle.
