The Forex Oracle indicator is a complete trading system for Metatrader 5 that delivers high-probability trend reversal signals for any currency pair.
The Oracle indicator is 100 non-repaint and long-term profitable if used correctly.
The trading system also includes a trailing stop feature.
How does the Oracle trading system work?
- A blue colored dot generates a buy signal.
- An orange colored dot generates a sell signal.
- The blue colored dashed line serves as a trailing stop for buy signals.
- The orange colored dashed line serves as a trailing stop for buy signals.
The indicator contains the following inputs and parameters: ATR period, factor, typical price.
Familiarize yourself with the Oracle system indicator and test it first on a demo account before using it in a real trading account.
Tip: scalpers and day traders are likely to benefit the most from utilizing this trading system during periods of higher market volatility.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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The following chart shows how the Forex Oracle system looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Forex Oracle Trading System?
Find a simple trading strategy below:
- A buy signal is triggered when the blue colored Oracle indicator dot gets displayed on the chart.
- Add a stop loss to the buy position, preferred below the most recent swing low level.
- Optional: trail your stop loss up just below the blue colored dashed line.
- Close and reverse the buy trade when the orange colored Oracle dot appears on the chart.
- Optional: exit the buy trade for a fixed pips target of your preference.
- A sell signal is triggered when the orange colored Oracle indicator dot gets displayed on the chart.
- Add a stop loss to the sell position, preferred above the most recent swing high level.
- Optional: trail your stop loss down just above the orange colored dashed line.
- Exit and reverse the sell trade when the blue colored Oracle dot appears on the chart.
- Optional: exit the sell trade for a fixed pips target of your preference.
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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 bat_atrv1.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