The super Stop and Reversal Forex indicator for Metatrader 5 identifies possible major trend reversals and delivers powerful buy and sell trading signals.
The indicator appears as blue and magenta colored non-repaint arrows in the price chart.
In case the trend moves against the original buy or sell position, the indicator may signal a trend reversal.
How to trade the Forex market with this technical indicator?
- A blue colored arrow indicates a bullish market trend.
- A magenta colored arrow indicates a bearish market trend.
The following indicator inputs and parameters can be modified: pips, price.
The Stop And Reversal indicator delivers the most promising signals in trending markets and may generate more false trading signals in sideways or choppy market conditions.
Make yourself familiar with this technical indicator and test it first on a practice account until you fully understand how it works.
It supports all time frames and Forex pairs.
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The following chart shows how the Super Stop and Reversal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Super Stop And Reversal Forex Indicator?
Find a simple trading example below:
- A buy signal is confirmed when the blue colored arrow gets displayed on the chart.
- Open a buy trade and add a stop order below the previous swing low area.
- Exit method 1: close the buy trade for a risk to reward ratio of at least 1.5 or better.
- Exit method 2: close and reverse the buy trade when the magenta colored arrow appears on the chart.
- A sell signal is confirmed when the magenta colored arrow gets displayed on the chart.
- Open a sell trade and add a stop order above the previous swing high area.
- Exit method 1: close the sell trade for a risk to reward ratio of at least 1.5 or better.
- Exit method 2: close and reverse the sell trade when the blue colored arrow appears on 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 Stopreversal.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