Trend Rider is a complete Forex trading system built for Metatrader 5 that provides awesome buy and sell signals for any currency pair.
The indicator is composed of the Average True Range, RSI and MACD technical indicators.
The Trend Rider Forex system appears on the main chart as an array of colored green and red candlesticks and a stop loss line based on the ATR indicator.
Signals are very easy to follow and work as follows:
- The green candlestick is a bullish signal.
- The red candlestick is a bearish signal.
- The gray candlestick is neutral.
The following indicator inputs can be modified: ATR period, ATR multiplier, RSI period, MACD slow period, MACD fast period, alert message, send email alerts, send push notifications.
Feel free to experiment with the various indicator inputs.
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 Trend Rider Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Trend Rider Forex System Indicator?
Find a simple trading example below:
- A bullish signal occurs when the first green candlestick appears on the main chart.
- Open a buy order and place a stop loss below the blue dotted ATR based stop loss line.
- Close the buy trade for a fixed take profit target of your preference, or wait for the first red bearish candlestick.
- A bearish signal occurs when the first red candlestick appears on the main chart.
- Open a sell order and place a stop loss above the red dotted ATR based stop loss line.
- Close the sell trade for a fixed take profit target of your preference, or wait for the first green bullish candlestick.
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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 Trend Rider.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