The Flat Trend indicator for Metatrader 5 is a popular technical tool that delivers trend trading signals for any currency pair.
The indicator works the best for scalpers and day traders and offers multiple trading signals every day.
It can be combined with any trading strategy for additional short-term trend confirmation, or as a standalone buy/sell signal scalper tool.
How does it work?
- A blue colored Flat Trend bar indicates bullish pressure and the trend is expected to continue to rise.
- A red colored Flat Trend bar indicates bearish pressure and the trend is expected to continue to decline.
The indicator contains the following inputs and parameters: signal time frame, style, colors.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
Download Indicator 🆓
The following chart shows how the Flat Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Flat Trend Technical Indicator?
Find a simple trading example below:
- A buy signal is given when the first blue histogram bar appears in the chart.
- Open a long trade and place your stop loss order below the most recent support level.
- Exit the buy trade for a fixed profit target or wait for the first red colored Flat Trend bar.
- A sell signal is given when the first red colored histogram bar appears in the chart.
- Open a short trade and place your stop loss order above the most recent resistance level.
- Exit the sell trade for a fixed profit target or wait for the first blue colored Flat Trend bar.
Download Now 🆓
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 FlatTrend.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