The Swing Line Forex indicator for Metatrader 5 delivers solid stop & reverse swing trading signals that work in any time frame of your preference.
The trading signals appear as green and violet colored lines in the main price chart.
How to find buying and selling trade opportunities with the Swing Line indicator?
- The green colored Swing Line is a buy trade opportunity.
- The violet colored Swing Line is a sell trade opportunity.
The following indicator inputs and parameters can be modified: line style and colors.
Valuable tip for M1 and M5 chart traders:
The Swing Line indicator delivers the best results when used during the London and New York trading hours.
Make yourself familiar with this technical indicator and test it first on a practice broker account for an extended period of time.
Download Indicator 🆓
The following chart shows how the Swing Line technical indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Swing Line Forex Indicator?
Find a simple trading example below:
- A buy signal is given when the green colored swing line appears in the trading chart (see chart example above).
- Open a buy trade and place your stop order below swing support.
- Exit method 1: close the buy trade as soon as the opposite violet colored signal line appears in the chart.
- Exit method 2: close the buy trade for a profit target of your preference.
- A sell signal is given when the violet colored swing line appears in the trading chart.
- Open a sell trade and place your stop order above swing resistance.
- Exit method 1: close the sell trade as soon as the opposite green colored signal line appears in the chart.
- Exit method 2: close the sell trade for a profit target of your preference.
Download Now 🆓
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 Swing_line.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