The Trend Strength EMA Scalper indicator for Metatrader 5 is a crossover trading system that works on the M1/M5 technical charts.
The system is very easy to trade and should perform well under most short-term market conditions.
How it works?
- A blue colored signal line marks a bullish trend.
- A brown colored signal line marks a bearish trend.
For best performance, trade with this scalping indicator during the London and New York trading session.
The indicator contains the following inputs and parameters: EMA period, speed, price, strength.
Make yourself familiar with this technical indicator and test it first on a demo account.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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The following chart shows how the Trend Strength EMA Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Trend Strength EMA Scalper Indicator?
Find a simple trading example below:
- The blue colored signal line is a buy trade.
- Execute a buy order and place a stop loss below the previous swing low.
- Close the buy trade for a reward to risk ratio of 1.5, or wait for the brown colored line.
- The brown colored signal line is a sell trade.
- Execute a sell order and place a stop loss above the previous swing high.
- Close the sell trade for a reward to risk ratio of 1.5, or wait for the blue colored line.
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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 TrendStrength EMA variation.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