As the name suggests, the Trading the Trend Forex indicator for Metatrader 5 follows the trend closely and provides accurate buy & sell trading signals for any currency pair.
The indicator appears in the main chart as blue/orange colored candlesticks and a blue/orange colored signal line.
How to spot the trend with this indicator?
- The trend is considered bullish as soon as the blue colored signal line appears on the chart.
- The trend is considered bearish as soon as the orange colored signal line appears on the chart.
The indicator works for any time frame, trading instrument and is newbie friendly.
The indicator contains the following inputs and parameters: look back period, multiplier, channel shift, display mode.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the Trading the Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Trading The Trend Forex Indicator?
Find a simple trading example below:
- A buy signal is given when the blue colored line gets displayed on the chart.
- Open a buy order and place your stop loss below the blue colored line.
- Close the buy trade for a reward to risk ratio of at least 1.5, or wait for a sell signal.
- A sell signal is given when the orange colored line gets displayed on the chart.
- Open a sell order and place your stop loss above the orange colored line.
- Close the sell trade for a reward to risk ratio of at least 1.5, or wait for a buy signal.
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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 Trading the trend.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