The Step Chart indicator for Metatrader 5 delivers no-repaint trend trading signals based on step size in pips format.
The indicator is displayed in the price chart as colored candles that appear above and below the actual candlesticks.
The signal line should work equally well across all available time frames.
How to use it?
- The green colored step candles generate a buy signal.
- The orange colored step candles generate a sell signal.
The following indicator inputs and parameters can be modified: step size (pips) price, colors, and style.
The Step Chart indicator works for any trading instrument (Forex, Stocks, Indices, etc.) that can be loaded in the Metatrader 5 platform.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
Free Download
Step chart.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Step Chart indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Step Chart Forex Signal Indicator?
Find a simple trading example below:
Buy Signal
- The first green colored Step Chart candle generates a buy signal.
- Open a buy trade and place your stop loss 3 pips below the previous swing low level.
- Exit the buy trade for a fixed take profit target or wait for the first orange colored Step candle.
Sell Signal
- The first orange colored Step Chart candle generates a sell signal.
- Open a sell trade and place your stop loss 3 pips above the previous swing high level.
- Exit the sell trade for a fixed take profit target or wait for the first green colored Step candle.
