The Forex Bands Fill Scalper indicator for Metatrader 5 delivers profitable trend scalper signals based on filled trading bands.
The indicator gets displayed in the price chart as blue and brown colored filled bands.
It works for any time frame and the Bands Fill Scalper trade logic goes as follows:
- The blue filled bands indicate an uptrend.
- The brown filled bands indicate a downtrend.
The following indicator inputs and parameters can be modified: period, deviation.
For M1 and M5 chartists: the indicator should deliver the best results in the London and New York trading sessions.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
Download Indicator 🆓
The following chart shows how the Forex Bands Fill Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Forex Bands Fill Scalper Indicator?
Find a simple trading example below:
- A buy signal is given as soon as the blue filled bands get displayed on the chart.
- Execute a buy trade and set your stop loss slightly below short-term support.
- Close the buy trade for a fixed profit target or wait for a sell signal.
- A sell signal is given as soon as the brown filled bands get displayed on the chart.
- Execute a sell trade and set your stop loss slightly above short-term resistance.
- Close the sell trade for a fixed profit target or wait for a buy signal.
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 Bands_Fill.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