The Waddah Attar Adx Bollinger indicator for Metatrader 5 is composed of ADX and Bollinger Bands and it provides buy & sell trading signals.
The trading signals appear in a sub chart window as green and red colored histogram bars.
How to use it?
- A green histogram bar is bullish.
- A red histogram bar is bearish.
The following indicator inputs and parameters can be modified: ADX period, BB period, BB applied price.
The indicator works for any trading instrument (Forex, Stocks, Indices, etc.) that can be loaded in the Metatrader 5 platform.
Scalpers and intraday traders will get the best results when using it during the London and New York trading sessions.
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 Waddah Attar Adx Bollinger indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Waddah Attar Adx Bollinger Indicator?
Find a simple trading example below:
- The first green colored bar in the array is a buy signal.
- Open a buy order and place your protective stop loss below short-term support.
- Close the buy trade for a fixed take profit, or ride the uptrend and wait for a sell signal.
- The first red colored bar in the array is a sell signal.
- Open a sell order and place your protective stop loss above short-term resistance.
- Close the sell trade for a fixed take profit, or ride the downtrend and 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 WAAB.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