The Min Max Forex Signal indicator for Metatrader 5 delivers accurate trading signals that work for any currency pair and time frame.
The indicator appears in the price chart as a green/red colored signal line and performs well under most market conditions.
How it works?
- The green colored Min Max signal line forecasts a bullish trend.
- The red colored Min Max signal line forecasts a bearish trend.
For M1 and M5 chart traders: deploy the indicator during the London and New York trading session for best results.
The indicator contains the following inputs and parameters: min max period (25), price.
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 Min Max Forex Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Min Max Forex Signal Indicator?
Find a simple trading example below:
- The appearance of the green colored Min Max signal line is a buy signal.
- Execute a buy order and place a stop loss below the previous swing low price.
- Close the buy trade for a reward to risk ratio of 1.5, or wait for the red colored Min Max line.
- The appearance of the red colored Min Max signal line is a sell signal.
- Execute a sell order and place a stop loss above the previous swing high price.
- Close the sell trade for a reward to risk ratio of 1.5, or wait for the green colored Min Max line.
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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 MinMax.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