The TRIX Candle Keltner Signal indicator for Metatrader 5 provides robust short-term trade opportunities based on a cloud and candle trading system.
The indicator is displayed in a dedicated chart window as a cloud accompanied by a sequence of bullish and bearish candlesticks.
Spotting buy and sell trends with this tool:
- Green colored candles indicate an uptrend.
- Red colored candles indicate a downtrend.
The following indicator inputs and parameters can be modified: momentum period, TRIX period (14), and style.
The TRIX Candle Keltner Signal indicator works equally well across all trading instruments offered on the MT5 charting platform.
Make yourself familiar with this technical tool and test it first on a practice account until you fully understand how it works.
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TriXCandleKeltner.mq5 Indicator (MT5)
Chart Example
The following chart shows what the TRIX Candle Keltner Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The TRIX Candle Keltner Signal Indicator?
Find a simple trading strategy below:
Buy Signal
- The first green colored candle inside the cloud generates a buy signal.
- Initiate a buy trade and place a stop loss 3 pips below the most recent support zone.
- Exit the buy trade for 15-35 pips profit potential or wait for a sell trade reversal signal.
Sell Signal
- The first red colored candle inside the cloud generates a sell signal.
- Initiate a sell trade and place a stop loss 3 pips above the most recent resistance zone.
- Exit the sell trade for 15-35 pips profit potential or wait for a buy trade reversal signal.
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TriXCandleKeltner.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 TriXCandleKeltner.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
- To access the indicator list, simply open the dropdown menu and select it
- Click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration
