The Instantaneous Trend Filter indicator for Metatrader 5 is a powerful trend trading tool consisting of a blue and magenta colored signal line.
The indicator never repaints and works equally well for any Forex pair and time frame.
To determine the market state using this indicator, adhere to the following guidelines:
- A blue colored line indicates an uptrend.
- A magenta colored line indicates a downtrend.
The indicator contains the following inputs and parameters: indicator ratio, horizontal shift, colors.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
The Instantaneous Trend Filter indicator can be effectively combined with any trading strategy to confirm trends.
Alternatively, it can be used independently to generate buy/sell signals on any preferred time frame.
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instantaneous_trendfilter.mq5 Indicator (MT5)
Chart Example
The image below illustrates how the Instantaneous Trend Filter indicator looks when applied to the MT5 chart.
How To Buy And Sell Trading Instruments With The Instantaneous Trend Filter Forex Indicator?
Find a simple trading example below:
Buy Signal
- A buy is triggered when the blue colored instantaneous trend line appears in the price chart.
- Open a buy trade and place a stop loss order below the previous swing low support.
- Exit the buy trade for a minimal risk to reward ratio of 1.5.
- Alternatively, wait for a sell signal before closing the buy trade.
Sell Signal
- A sell is triggered when the magenta colored instantaneous trend line appears in the price chart.
- Open a sell trade and place a stop loss order above the previous swing high resistance.
- Exit the sell trade for a minimal risk to reward ratio of 1.5.
- Alternatively, wait for a buy signal before closing the sell trade.
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instantaneous_trendfilter.mq5 Indicator (MT5)
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 instantaneous_trendfilter.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