The Sidus V1 indicator for Metatrader 5 represents a powerful Forex strategy that delivers signals based on two linearly weighted moving averages.
LWMA stands for linear weighted moving average.
The crossover of both LWMA lines generate a buy or sell trading signal.
How to interpret the Sidus V1 indicator?
- A buy signal occurs when the shorter blue colored LWMA line crosses above the longer orange colored LWMA line (blue cloud).
- A sell signal occurs when the shorter blue colored LWMA line crosses below the longer orange colored LWMA line (orange cloud).
The following indicator inputs and parameters can be modified: first LWMA period, second LWMA period, first EMA period, second EMA period, applied price, color, style.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
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The following chart shows how the Sidus V1 indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Sidus V1 Strategy Indicator?
Find a simple trading example below:
- A buy signal is given when the blue colored Sidus V1 cloud gets displayed in the price chart.
- Open a buy trade and place your stop loss slightly below the most recent support level.
- Close the buy trade near key resistance levels or wait for the orange colored LWMA cloud (bearish signal).
- A sell signal is given when the orange colored Sidus V1 cloud gets displayed in the price chart.
- Open a sell trade and place your stop loss slightly above the most recent resistance level.
- Close the sell trade near key support levels or wait for the blue colored LWMA cloud (bullish 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 Sidus_V1_Cloud.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