The MA Candles indicator for Metatrader 5 follows the best trend and places a series of bullish and bearish trend candles in the price chart.
The indicator provides reliable trading signals and never repaints any of the candles.
It can be used as a standalone buy/sell trend-following tool or combined with any other signal indicator of your preference.
How to trade with it?
- A green colored MA candle that appears below the actual candle is a bullish signal.
- An orange colored MA candle that appears above the actual candle is a bearish signal.
The following indicator inputs and parameters can be modified: MA period, MA method, MA shift, bullish candles color, bearish candles color.
Tip: scalpers and intraday traders will benefit the most from this indicator when using it during the London and New York trading session.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
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The following chart shows how the MA Candles indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The MA Candles Trend Indicator?
Find a simple trading example below:
- The first green colored MA Candle generates a buy signal.
- Initiate a long transaction and add a stop loss below technical support.
- Reverse the buy position when a valid sell signal appears on the chart.
- You can also exit the buy trade for a fixed profit target of your preference.
- The first orange colored MA Candle generates a sell signal.
- Initiate a short transaction and add a stop loss above technical resistance.
- Reverse the sell position when a valid buy signal appears on the chart.
- You can also exit the sell trade for a fixed 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 MA_Candles.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