Super Trend Line Channel Indicator For MT5

The Super Trend Line Channel indicator for Metatrader 5 analyzes the price chart and accurately plots a trend line channel based on the user’s chosen time frame.

The trend channel never lags the price, enabling traders to make timely decisions to buy when the price breaks above the channel or sell when it breaks below.

Here’s how it works:

  • A candle close above the orange-colored trend line channel creates a buy trade opportunity.
  • A candle close below the red-colored trend line channel generates a sell trade opportunity.

The indicator contains the following inputs and parameters: period, limit, up channel color, and down channel color.

Before using this technical indicator in live currency trading, it is recommended to practice and gain familiarity with it on a demo account.

Download Indicator 🆓

trendlinesday.mq5 Indicator (MT5)

Chart Example

The following chart shows how the Super Trend Line Channel indicator looks when applied to the MT5 chart.

How To Buy And Sell Forex Pairs With The Super Trend Line Channel Indicator?

Find a simple trading example below:

Buy Signal

  • Buy a candle close above the orange-colored trend line channel line.
  • Set a stop loss below the red-colored trend channel line.
  • Close the buy trade for a risk/reward ratio of 1.5, or better.
  • Alternatively, use your preferred take-profit method to close the buy trade.

Sell Signal

  • Sell a candle close below the red-colored trend line channel line.
  • Set a stop loss above the orange-colored trend channel line.
  • Exit the sell trade for a risk/reward ratio of 1.5, or better.
  • Alternatively, use your preferred take-profit method to close the sell trade.

Download Now 🆓

trendlinesday.mq5 Indicator (MT5)

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 trendlinesday.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 on the open chart with your right mouse button
  • In the dropdown menu, click on Indicator List
  • Select the indicator and click on the properties
  • Now you can edit the inputs, colors, levels, scale, and visualization
  • Finally, click the OK button to save the new configuration