The MA Confirmation Forex Signal indicator for Metatrader 5 uses an extra filter method (SDL) to confirm the signals generated by a moving average.
After loading the indicator to the chart, it looks like a classic crossover trading system.
How to identify buy and sell trends with this technical tool?
- A buy trend occurs when the green colored line crosses above the blue colored line.
- A sell trend occurs when the red colored line crosses below the blue colored line.
The indicator contains the following inputs and parameters: MA period, MA method, MA applied price, SDL period, SDL method, SDL applied price.
For scalpers, the MA Confirmation indicator tends to deliver the best results during the London and New York 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.).
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The following chart shows how the MA Confirmation Forex Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The MA Confirmation Forex Signal Indicator?
Find a simple trading example below:
- A buy signal is given as soon as the green line crosses the blue line bottom-up.
- Open a buy transaction and place your stop loss slightly below the blue line.
- Close the buy trade for 15- 50 pips profit per transaction, or wait for a sell signal.
- A sell signal is given as soon as the red line crosses the blue line top-down.
- Open a sell transaction and place your stop loss slightly above the blue line.
- Close the sell trade for 15- 50 pips profit per transaction, or wait for a buy signal.
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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 Slope_MA_Confirmation.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