The KDJ indicator for Metatrader 5 is a technical oscillator that predicts short-term market trends with good accuracy for any FX pair.
This trading oscillator is good if you are looking for 10-30 pips profit potential per trade.
It can be easily combined with trend indicators for pinpointing trade entries in the direction of the overall market trend.
How to spot the short-term trend with the KDJ oscillator?
- Purple colored histogram bars above 0 are considered bullish.
- Purple colored histogram bars below 0 are considered bearish.
The following indicator inputs and parameters can be modified: M1, M2, KDJ period.
The KDJ signal indicator works for any trading instrument (Forex, Stocks, Indices, etc.).
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.
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The following chart shows how the KDJ Oscillator indicator looks like when applied to the MT5 chart.
How To Buy And Sell FX Pairs With The KDJ Oscillator?
Find a simple trading example below:
- A bullish signal occurs when the KDJ oscillator turns back above 0.
- Initiate a buy transaction and add a stop order below short-term support.
- Close the buy transaction for 10-30 pips profit or wait for the KDJ oscillator to turn back below 0.
- A bearish signal occurs when the KDJ oscillator turns back below 0.
- Initiate a sell transaction and add a stop order above short-term resistance.
- Close the sell transaction for 10-30 pips profit or wait for the KDJ oscillator to turn back above 0.
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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 KDJ Indicatormq5 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