About the Show Bid Price Indicator
The Show Bid Price indicator for MT5 displays the current bid price directly on the main chart, giving traders instant access to market pricing.
It is suitable for scalpers, day traders, and swing traders who want to monitor price levels precisely.
You can customize the display by changing the color and size of the bid price to match your visual preference.
The indicator works on all time frames and currency pairs, making it a flexible tool for any trading strategy.
This simple yet effective tool helps traders stay informed about price movements without relying on extra charts or external data.
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Key Features
- Displays real-time bid price on the main chart.
- Customizable color and size for personal preference.
- Supports all time frames from 1 minute to daily charts.
- Lightweight and does not interfere with other indicators.
- Ideal for traders who need precise market entry and exit points.
Indicator Chart
The Show Bid Price indicator appears on the main price area, displaying the live bid price.
Traders can monitor exact pricing for entries and exits while following their own strategy or other technical indicators.
Guide to Trade with the Show Bid Price Indicator
Buy Guidance
- Use the bid price to monitor when price approaches support levels.
- Enter a buy trade when your strategy signals a reversal near support.
- Confirm the trend direction with additional indicators or price action.
- Watch the bid price closely to refine your entry and reduce slippage.
Sell Guidance
- Use the bid price to observe price approaching resistance levels.
- Initiate a sell trade when your system signals a potential reversal near resistance.
- Confirm with trend indicators or candlestick patterns before entering.
- Track the bid price for precise timing of entries and adjustments.
MAMA with Bid Indicator Crossover Scalping Strategy for MT5
This strategy combines the Show Bid Price indicator for MT5 with the MAMA indicator for MT5 to create a precise and fast-reacting trading approach.
The Show Bid Price indicator displays the live bid price directly on the main chart, allowing traders to execute trades with better timing and accuracy.
It helps avoid entry delays and improves precision during fast market conditions.
The MAMA indicator uses two lines: MAMA (green) and FAMA (red).
The green line reacts quickly to price changes, while the red line is slower and confirms the trend.
A crossover between these lines signals a shift in market direction.
This strategy focuses on quick intraday opportunities, making it ideal for M5 and M15 timeframes during active trading sessions.
Buy Entry Rules
- Wait for the green MAMA line to cross above the red FAMA line from below.
- Confirm that the crossover happens with clear upward momentum.
- Use the live bid price display to enter immediately at market.
- Place the stop loss just below the recent minor low.
- Take profit when the MAMA line crosses back below the FAMA line or when price shows hesitation.
Sell Entry Rules
- Wait for the green MAMA line to cross below the red FAMA line from above.
- Confirm that the crossover occurs with strong downward movement.
- Enter the trade using the real-time bid price for precise execution.
- Place the stop loss just above the recent minor high.
- Take profit when the MAMA line crosses back above the FAMA line or when bearish momentum weakens.
Case Study 1: Buy Trade on GBP/JPY
On the M5 timeframe, GBP/JPY was moving sideways before momentum started building upward.
The green MAMA line crossed above the red FAMA line, signaling a bullish shift.
The entry was executed immediately using the live bid price display, allowing a precise fill without delay.
Price accelerated upward shortly after the crossover.
The move continued with strong bullish candles, showing clear trend strength.
The position was closed when the MAMA line began flattening and showed signs of crossing back.
Case Study 2: Sell Trade on EUR/GBP
On the M15 timeframe, EUR/GBP was trending upward before losing momentum.
The green MAMA line crossed below the red FAMA line, indicating a bearish reversal.
A sell trade was entered immediately using the bid price for accurate execution.
Price started declining steadily as sellers took control.
The downward movement remained consistent with small pullbacks, confirming a strong trend.
The trade was closed when the MAMA line began to turn upward again.
The position was closed with a solid 27 pip profit after following the trend shift.
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FAQ
Does this indicator generate buy or sell signals?
No, the Show Bid Price indicator only displays the current bid price.
It does not produce trading signals and must be used alongside your own system or other tools.
Can I customize the bid price display?
Yes, you can adjust the color and size of the bid price to suit your chart style and improve visibility.
Can it be used with other indicators?
Traders often combine it with trend, momentum, or reversal indicators to monitor price levels while executing their system-based trades.
Summary
The Show Bid Price indicator provides a simple and effective way to track real-time bid prices on any chart and time frame.
While it does not generate trade signals, it enhances precision when combined with other technical tools or trading systems.
This lightweight tool supports all Forex pairs, making it a versatile addition to any trading setup.
