The Trend Analysis Index (TAI) indicator for Metatrader 5 attempts to deliver solid Forex trading signals using an advanced trading method.
The indicator consists of an oscillating signal line + floating channel that appears in a separate chart window.
Overall, the TAI indicator is a reliable trading tool that never repaints the colored signal line.
How to trade with the Trend Analysis Index indicator?
- The green colored signal line suggests a bullish market.
- The orange colored signal line suggests a bearish market.
The following indicator inputs and parameters can be modified: TAI period, price, average period, average type, floating levels period, up level (80%), down level (20%).
Scalpers and intraday traders can use TAI as a standalone buy/sell trading tool during the London and New York trading sessions.
Please make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
It works for any currency pair (majors, minors, exotics) and time frame.
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Trend Analysis Index – ic_fl.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Trend Analysis Index Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Trend Analysis Index Signal Indicator?
Find a simple trading example below:
Buy Signal
- The appearance of the green colored TAI is a buy signal.
- Execute a buy order and place a stop loss slightly below swing low support.
- Take profit when the TAI line reverts back to orange color, or utilize your own take profit method.
Sell Signal
- The appearance of the orange colored TAI is a sell signal.
- Execute a sell order and place a stop loss slightly above swing high resistance.
- Take profit when the TAI line reverts back to green color, or utilize your own take profit method.
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Trend Analysis Index – ic_fl.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 Trend Analysis Index – ic_fl.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