The Tornado indicator for Metatrader 5 is specifically designed to accurately identify trend reversal signals for any currency pair using its unique trading algorithm.
When applied to the price chart, this indicator displays signal arrows in lime and violet colors, which typically indicate a new market trend reversal.
Trading with this indicator is extremely simple. Just follow the guidelines below:
- A lime-colored arrow indicates a bullish trend reversal.
- A violet-colored arrow indicates a bearish trend reversal.
You have the option to customize the indicator by adjusting the following inputs and parameters: the number of bars for analysis and the colors of the arrows.
Before trading with real money, it is highly recommended to familiarize yourself with this technical indicator and thoroughly test it on a demo account.
Here are some useful tips for scalpers and day traders who use the Tornado Forex indicator:
Useful tips for scalpers and day traders utilizing the Tornado Forex indicator:
- Minimize trading costs by applying the Tornado indicator on currency pairs with lower spreads.
- The London and New York trading sessions offer more frequent trading opportunities to short-term traders.
Download Indicator 🆓
The picture below shows how the Tornado indicator looks like when applied to the MT5 charting platform.
How To Buy And Sell Pairs Utilizing The Tornado Signal Indicator?
Find a simple trading example below:
- A lime colored Tornado arrow generates a bullish trend reversal signal.
- Execute a buy trade and add a stop loss below short-term support.
- Close and reverse the buy trade when the violet colored Tornado arrow gets displayed on the chart.
- Alternatively, exit the long position for a fixed take profit target that suits your preference.
- The violet colored Tornado arrow creates a bearish trend reversal signal.
- Execute a sell trade and add a stop loss above short-term resistance.
- Close and reverse the sell trade when the lime colored Tornado arrow gets displayed on the chart.
- Alternatively, exit the short position for a fixed take profit target that suits 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 nxbars.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