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 candle color, bearish candle color.
Tip: scalpers and intraday traders will benefit the most from this indicator when using it during the London and New York trading sessions.
Please make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
Free Download
MA_Candles.mq5 Indicator (MT5)
Chart Example
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:
Buy Signal
- 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.
Sell Signal
- 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.
