The TTM Forex Trend Candle indicator for Metatrader 5 is composed of colored candles that follow the best currency trend at any given moment.
The indicator is newbie friendly and does not repaint the colored blue and light-brown trend candles.
How to spot buy and sell market trends with this tool?
- The market state is bullish when the blue colored candles show up in the price chart.
- The market state is bearish when the light-brown colored candles show up in the price chart.
The indicator allows customizing the following settings and parameters: look back period, candle colors.
The TTM Forex Trend Candle indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
Tip for short-term traders:
Deploy the indicator on the lower spread pairs and use it during the London and New York trading sessions.
Make yourself familiar with this technical indicator and test it first on a demo account before using it on a real account.
It supports all time frames and Forex pairs.
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The following chart shows how the TTM Forex Trend Candle indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The TTM Forex Trend Candle Indicator?
Find a simple trading example below:
- A buy signal arises when the first blue colored TTM candle gets displayed on the chart.
- Open a buy trade and place a protective stop loss below the most recent support area.
- Exit the long trade for a fixed profit target, or wait for the first light-brown colored TTM candle.
- A sell signal arises when the first light-brown colored TTM candle gets displayed on the chart.
- Open a sell trade and place a protective stop loss above the most recent resistance area.
- Exit the short trade for a fixed profit target, or wait for the first blue colored TTM candle.
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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 TTM trend.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