The Nadaraya Watson Price Forecaster indicator for Metatrader 5 follows the trend and predicts the next price move for any currency pair.
The indicator appears in the main chart as a dual colored signal line.
A bullish or bearish trend is easy to spot with this indicator:
- A blue colored line suggests a bullish trend.
- An orange colored line suggests a bearish trend.
This indicator works equally well for scalpers, day traders and swing traders.
The following indicator inputs can be modified: band width, price, bars to calculate for estimations.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
Download Indicator 🆓
The following chart shows how the Nadaraya Watson Price Forecaster indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Nadaraya Watson Price Forecaster Indicator?
Find a simple trading example below:
- A buy signal occurs when the blue line appears on the chart.
- Open a buy market order and place your stop 3 pips below support.
- Close the buy trade for a fixed take profit target or wait for a sell signal.
- A sell signal occurs when the orange line appears on the chart.
- Open a sell market order and place your stop 3 pips above resistance.
- Close the sell trade for a fixed take profit target or wait for a buy signal.
Download Now 🆓
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 Nadaraya-Watson estimator.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