The Forex Profit Boost indicator developed for Metatrader 5 boosts your trading profits straight away by delivering excellent buy and sell signals.
Forex Profit Boost appears in the main price chart as a series of buy and sell signal clouds.
The indicator works equally well for both newbies and seasoned traders.
How does it work?
- The blue colored cloud indicates an uptrend.
- The magenta colored cloud suggests a downtrend.
The indicator contains the following variables and parameters: MA period 1, MA period 2, price, period, BB period, BB deviation, BB shift.
Make yourself familiar with the Forex Profit Boost indicator and test it first on a demo account before applying it to a real trading account.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
This technical tool doesn’t repaint and works for scalpers, day traders and swing traders alike.
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The picture below shows how the Forex Profit Boost indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs Utilizing The Forex Profit Boost Indicator?
Find a simple trading example below:
- The start of the blue colored cloud signals an emerging buy trend.
- Open a buy market order and add a stop loss just below the most recent swing low level.
- Exit and reverse the buy trade when the magenta colored cloud gets shown on the chart.
- The start of the magenta colored cloud signals an emerging sell trend.
- Open a sell market order and add a stop loss just above the most recent swing high level.
- Exit and reverse the sell trade when the blue colored cloud appears on the price chart.
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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 forexprofitboost_2nb.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