The Forex Trend Accumulator for Metatrader 5 is a trend-following oscillator that delivers accurate buy and sell entry points to currency traders.
The indicator gets displayed in a dedicated chart window as a series of consecutive purple colored histogram bars that oscillate above and below 0.
- A bullish market trend occurs when the histogram bars trade above the zero level.
- A bearish market trend occurs when the histogram bars trade below the zero level.
The indicator contains the following inputs and parameters: threshold (in points), MA period, MA method, MA price.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
Worth noting: scalpers and day traders can enhance their profit potential by utilizing the Forex Trend Accumulator indicator during the London and American trading hours.
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The picture below illustrates how the Forex Trend Accumulator indicator looks like when applied to the MT5 chart.
How To Buy And Sell MT5 Instruments With The Forex Trend Accumulator Indicator?
Find a simple trading example below:
- A buy signal occurs when the purple colored accumulator histogram bars cross the zero level bottom up.
- Place a protective stop loss below the previous swing low price.
- Close the buy trade for a predetermined pips target of your preference, or hold and wait for a sell signal.
- A sell signal occurs when the purple colored accumulator histogram bars cross the zero level top down.
- Place a protective stop loss above the previous swing high price.
- Close the sell trade for a predetermined pips target of your preference, or hold and wait for a buy signal.
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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 Trends_Accumulator.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