The Min Max SR Forex Signals indicator for Metatrader 5 draws a buy and sell signals cloud on the chart that follows the overall currency trend.
It’s very easy to buy and sell Forex pairs with this technical indicator.
- A bullish trend occurs when the cloud appears below the candlesticks.
- A bearish trend occurs when the cloud appears above the candlesticks.
- A stop loss will be placed above or below the colored cloud.
For scalpers, The Min Max SR Forex indicator tends to work the best during the London and U.S. trading sessions.
The indicator contains the following inputs and parameters: start from, step size, line style, start color, end color.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the Min Max SR Forex Signals indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Min Max SR Forex Signals Indicator?
Find a simple trading example below:
- A colored cloud below the candlesticks is a bullish signal.
- Open a buy order and place your stop loss 3 pips below the colored cloud.
- Exit the buy trade for a fixed take profit target of your preference, or wait for a sell signal.
- A colored cloud above the candlesticks is a bearish signal.
- Open a sell order and place your stop loss 3 pips above the colored cloud.
- Exit the sell trade for a fixed take profit target of your preference, 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 MinMax SR.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