The Forex Trend Queen indicator for Metatrader 5 is a popular technical tool that delivers accurate buy and sell trend signal arrows.
This indicator thoroughly analyzes various trends and offers reliable buy/sell trade recommendations.
When applied to a price chart, the indicator displays buy and sell arrows in distinct green and red colors.
- A green colored arrow is a buy signal.
- A red colored arrow is a sell signal.
The indicator offers the following adjustable values and input parameters: signal sensitivity control, arrow colors and signal displacement.
The Forex Trend Queen indicator is capable of serving as a standalone signal tool, eliminating the need for additional trading tools.
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Here is how the Forex Trend Queen indicator appears when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Forex Trend Queen Indicator?
Find a simple trading example below:
- A buy signal is given when the green colored signal arrow appears on the price chart.
- Open a buy market order and place a stop order below support.
- Exit the buy trade for a fixed profit target, or await a sell signal to close the buy trade.
- A sell signal is given when the red colored signal arrow appears on the price chart.
- Open a short market order and set a stop loss above resistance.
- Exit the short trade for a fixed profit target, or await a buy signal to close the sell trade.
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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 Trendsignal_Indicator.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