The Gann Multi Trend Scalper indicator for Metatrader 5 is an excellent trading tool designed for scalpers and intraday traders.
It consists of 6 colored lines that appear directly in the price chart:
- The green colored lines are being used to indicate a buy trend.
- The red, gold and brown colored lines are being used to indicate a sell trend.
- For buy signals, the green lines colored lines appear below the candles.
- For sell signals, the red, gold and brown colored lines appear above the candles.
The following indicator inputs and parameters can be modified: short term period, medium term period, long term period, deviation.
It works for any trading instrument that works in the MT5 trading platform.
Make yourself familiar with this technical indicator and test it first on a demo account until you fully understand how it works.
It supports all time frames and Forex pairs (majors, minors, exotic).
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The following chart shows how the Gann Multi Trend Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Gann Multi Trend Scalper Indicator?
Find a simple trading example below:
- A buy signal is given when the Gann Multi Trend lines appear below the candles.
- Open a buy trade and place your stop loss slightly below short-term support.
- Exit the buy trade for a fixed take profit target of your preference, or wait for a sell signal.
- A sell signal is given when the Gann Multi Trend lines appear above the candles.
- Open a sell trade and place your stop loss slightly above short-term resistance.
- Exit the sell trade for a fixed take profit target of your preference, or 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 Gann_Multi_Trend.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