The Ultra Trend MTF Forex indicator for Metatrader 5 is a valuable tool that delivers trend trading signals for any FX pair and time frame.
MTF stands for multiple time frame and this indicator provides the possibility to change the default time frame in the input parameters.
The indicator can produce many pips in a trending environment and gets displayed as two colored trend clouds in a separate chart window.
How to buy and sell FX with this indicator?
- The green colored cloud represents a buy trend.
- The orange colored cloud represents a sell trend.
The following indicator inputs and parameters can be modified: time frame (current), start period, step, instances, ultra trend smoothing period, ultra trend smoothing phase, interpolate in multi time frame mode (true, false).
It supports all time frames, Forex pairs, Indices, Stocks, Metals, etc.
Make yourself familiar with this technical indicator and test it first on a demo account before using it on real trading account.
Please note: there’s no indicator ever developed that generates 100% accurate trading signals measured over a prolonged period of time.
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The following chart shows how the Ultra Trend MTF indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Ultra Trend MTF Indicator?
Find a simple trading example below:
- The start of the green colored Ultra Trend MTF cloud represents a buy signal.
- Initiate a buy transaction and place a stop loss slightly below the most recent support region.
- Exit the buy trade for a fixed profit target or wait for a sell signal.
- The start of the orange colored Ultra Trend MTF cloud represents a sell signal.
- Initiate a sell transaction and place a stop loss slightly above the most recent resistance region.
- Exit the sell trade for a fixed profit target 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 Ultra trend mtf.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