The Trend Trail Forex indicator for Metatrader 5 is based on the Average True Range and paints a buy or sell signal line below or above the candles.
It’s a powerful, yet simple to understand trend indicator that performs the best in trending market environments.
How to interpret this indicator?
- The market is considered bullish when the ATR based line gets displayed below the candlesticks.
- The market is considered bearish when the ATR based line gets displayed above the candlesticks.
The following indicator inputs and parameters can be modified: ATR period, multiplier, colors, line style.
The Trend Trail indicator should work equally well for any MT5 trading instrument, such as Forex, Stocks, Indices, Gold, etc.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
It supports all time frames and Forex pairs.
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The following chart shows how the Trend Trail Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell FX Pairs With The Trend Trail Indicator?
Find a simple trading example below:
- A buy signal occurs when the Trend Trail indicator appears below the candles.
- Open a buy trade and place your stop loss slightly below the blue line.
- Exit the buy trade for a fixed take profit of your preference or wait for a sell signal.
- A sell signal occurs when the Trend Trail indicator appears above the candles.
- Open a sell trade and place your stop loss slightly above the blue line.
- Exit the sell trade for a fixed take profit of your preference 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 Trend_Trail_Indicator.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