The FRAMA Floating Levels Signal indicator for Metatrader 5 is an interesting tool that predicts future market trends with great accuracy.
The indicator gets displayed in the activity chart as a colored signal line and floating levels.
How to spot market trends with the FRAMA indicator?
- The blue FRAMA line suggests a bullish currency market.
- The brown FRAMA line suggests a bearish currency market.
The following indicator inputs and parameters can be modified: frama period (30), price, floating levels period, % up, % down, colors.
The FRAMA signals indicator does not repaint the brown and blue colored signal lines.
Make yourself familiar with this technical indicator and test it first on a demo account.
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 FRAMA Floating Levels Signal Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The FRAMA Floating Levels Signal Indicator?
Find a simple trading example below:
- The start of the blue FRAMA line is a buy signal.
- Initiate a buy trade and set your stop loss below the most recent swing low.
- Close the buy trade for a fixed profit target, or wait for the brown FRAMA signal line.
- The start of the brown FRAMA line is a sell signal.
- Initiate a sell trade and set your stop loss above the most recent swing high.
- Close the sell trade for a fixed profit target, or wait for the blue FRAMA signal line.
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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 Frama (fl).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