The Kalman Filter Signal indicator for Metatrader 5 is based on the Kalman trading method and prints a buy/sell trend-following signal line on the chart.
The indicator follows the trend and is always active in the currency market, either with a buy or sell trade.
Trading with the Kalman indicator is extremely easy, even for newbies:
- A green colored line is a buy signal.
- A red colored line is a sell signal.
For scalpers, the Kalman Filter Signal indicator performs the best on the low spread FX pairs during the most volatile trading sessions.
The indicator contains the following inputs and parameters: period and smoothing ratio, price, style.
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 Kalman Filter Signal Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Kalman Filter Signal Forex Indicator?
Find a simple trading example below:
- A green colored Kalman signal line indicates a bullish trend.
- Open a buy trade and set your initial stop loss below previous swing support.
- Close the buy trade for a fixed take profit, or hold the trade until the red Kalman line appears on the chart.
- A red colored Kalman signal line indicates a bearish trend.
- Open a sell trade and set your initial stop loss above previous swing resistance.
- Close the sell trade for a fixed take profit, or hold the trade until the green Kalman line appears on the chart.
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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 Kalman filter (generalized).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