The Moving Slope Rate Of Change Signal indicator for Metatrader 5 is an oscillator that provides accurate trend direction for any Forex pair.
It can be used as a simple standalone, non-repaint buy and sell technical analysis tool.
Trade logic explained:
- A bull trend occurs when the oscillator crosses back above the zero level.
- A bear trend occurs when the oscillator crosses back below the zero level.
The indicator allows customizing the following settings and parameters: calculation period, price, floating level period, floating level up %, and floating level down %.
The Moving Slope Rate Of Change Signal indicator should work equally well for any trading instrument that supports the MT5 trading platform.
Make yourself familiar with this indicator and test it first on a demo account until you understand how it works and performs.
Its overall performance will vary depending on market conditions, remember to have realistic expectations.
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Moving slope rate of change – extended.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Moving Slope Rate Of Change Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Moving Slope Rate Of Change Signal Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is confirmed when the oscillator climbs back above 0.
- Initiate a buy transaction and place a protective stop below medium-term support.
- Exit the buy trade for a risk to reward ratio of at least 1.5 or better.
Sell Signal
- A sell signal is confirmed when the oscillator falls back below 0.
- Initiate a sell transaction and place a protective stop above medium-term resistance.
- Exit the sell trade for a risk to reward ratio of at least 1.5 or better.
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Moving slope rate of change – extended.mq5 Indicator (MT5)
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 Moving slope rate of change – extended.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