The Thunderbolt signal indicator for Metatrader 5 creates a Forex trend channel empowering traders to execute multiple scalping trades on a daily basis.
This indicator is suitable for those seeking to make trades with a target range of 10-30 pips per trade.
To determine trend direction, the Thunderbolt indicator utilizes the following principles:
- An upward sloping Thunderbolt channel indicates a bullish market.
- A downward sloping Thunderbolt channel indicates a bearish market.
The indicator allows customization of the following parameters and settings: period, upper channel line color, lower channel line color.
The Thunderbolt signal indicator can be used as a standalone trading tool for both buy and sell trades.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
This indicator supports all time frames and currency pairs.
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The following chart shows how the Thunderbolt signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Thunderbolt Signal Indicator?
Find a simple trading example below:
- An upward sloping Thunderbolt channel creates buying opportunities.
- Wait for the candle to touch the lower blue channel line and open a buy market order.
- Set a stop loss slightly below short-term support.
- Exit the buy trade for 10-30 pips per trade, depending on your chosen time frame.
- A downward sloping Thunderbolt channel creates selling opportunities.
- Wait for the candle to touch the upper red channel line and open a sell market order (see chart example above).
- Set a stop loss slightly above short-term resistance.
- Exit the sell trade for 10-30 pips per trade, depending on your chosen time frame.
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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 neoparabolic.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