The Key Reversal Forex indicator for Metatrader 5 provides trend reversal signals with the help of an advanced trend detection filter.
The indicator pops up on the price chart as blue and red colored signal arrows.
How to identify trend reversals with this indicator?
- A blue arrow is a bullish trend reversal signal.
- A red arrow is a bearish trend reversal signal.
The indicator contains the following inputs and parameters: trend detection period, use trend detection filter, show alerts, send mails, send push notifications.
Feel free to experiment with the various settings and parameters.
For M1 and M5 chart traders, the key reversal indicator tends to work the best in the London and American trading session.
Make yourself familiar with this technical indicator and test it first on a demo account.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
Download Indicator 🆓
The following chart shows how the Key Reversal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Key Reversal Forex Indicator?
Find a simple trading example below:
- A blue arrow is a buy signal.
- Open a buy trade and place your stop loss order below the most recent support level.
- Close the buy trade for a risk/reward ratio of at least 1:1, or wait for the red sell arrow.
- A red arrow is a sell signal.
- Open a sell trade and place your stop loss order below the most recent support level.
- Exit the sell trade for a risk/reward ratio of at least 1:1, or wait for the blue buy arrow.
Download Now 🆓
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 Key_Reversal.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