The JSmooth moving average indicator for Metatrader 5 follows the trend and has a smoothing filter in a bid to reduce whipsaw signals.
The indicator appears in the main chart screen as an orange colored line that represents the JSmooth MA.
How to spot market trends with the JSmooth MA?
- Price action above the MA is considered bullish.
- Price action below the MA is considered bearish.
The indicator works for any trading instrument (Forex, Stocks, Indices, Metals, etc.) that can be loaded in the Metatrader 5 platform.
The following indicator inputs and parameters can be adjusted: period (20), applied price.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the JSmooth moving average indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The JSmooth moving average Forex Indicator?
Find a simple trading example below:
- A buy signal is given when the candle crosses the JSmooth MA bottom-up.
- Open a long transaction and set your stop loss below technical support.
- Close the buy trade at prior resistance or for a fixed take profit target of your preference.
- A sell signal is given when the candle crosses the JSmooth MA top-down.
- Open a short transaction and set your stop loss above resistance.
- Close the sell trade at prior support or for a fixed take profit target of your preference.
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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 JSmooth_MA.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