The Strong Trend Forex indicator for Metatrader 5 is an amazing technical analysis tool that delivers accurate trend signals for any currency pair.
The indicator appears in a separate chart window as a series of green/red/yellow colored dots.
Colored dots system explained:
- The green “strongly up” dot creates a buy signal.
- The red “strongly down” dot creates a sell signal.
- The light-green “up” dot indicates a buy trend.
- The light-red “down” dot indicates a sell trend.
The following indicator inputs and parameters can be modified: period, dot colors.
For short-term traders, the Strong Trend indicator usually delivers the best signals in the London and New York trading sessions.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
It supports all time frames and Forex pairs.
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The following chart shows how the Strong Trend Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Strong Trend Forex Indicator?
Find a simple trading example below:
- A buy signal occurs when the first green “strongly up” dot appears in the bottom chart.
- Open a buy trade and set a protective stop loss order below the previous swing low level.
- Exit the buy trade when the first red “strongly down” dot appears in the chart.
- A sell signal occurs when the first red “strongly down” dot appears in the bottom chart.
- Open a sell trade and set a protective stop loss order above the previous swing high level.
- Exit the sell trade when the first green “strongly up” dot appears in the chart.
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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 XBarClearCloseTrend.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