The Trend Dominator indicator designed for Metatrader 5 provides reliable Forex trend signals suitable for any currency pair and time frame.
The signals get displayed as blue and magenta colored arrows on the price chart.
To trade using the Trend Dominator Forex signals, follow the simple guidelines below:
- A blue arrow indicates a buy signal.
- A magenta arrow indicates a sell signal.
You have the flexibility to customize various inputs and parameters of the indicator, including colors and the indicator period.
Gain confidence in utilizing the Trend Dominator indicator and test it first on a demo account for an extended period of time.
The Trend Dominator indicator seamlessly integrates with any trading strategy to enhance trend confirmation or can be used independently as a reliable signal tool.
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The picture below shows how the Trend Dominator indicator looks like when applied to the MT5 charting platform.
How To Buy And Sell Trading Instruments With The Trend Dominator Indicator?
Find a simple trading example below:
- A buy signal is given when the blue colored arrow pops up in the chart.
- Initiate a buy transaction and position a stop loss below the most recent swing low.
- Exit the buy trade for a profit target of your preference.
- Optionally, await a magenta colored arrow prior to closing the buy trade.
- A sell signal is given when the magenta colored arrow pops up in the chart.
- Initiate a sell transaction and position a stop loss above the most recent swing high.
- Exit the sell trade for a profit target of your preference.
- Optionally, await a blue colored arrow prior to closing the sell trade.
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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 super-signals.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