The Blau T3 ECO Metatrader 5 forex indicator is an oscillator created by W. Blau.
The indicator is based on candlesticks and works in line with size and direction of the candlestick body.
In addition, the Blau T3 ECO MT5 indicator is not affected by price gaps, unlike other momentum indicators.
The easiest way to get started with this indicator is spotting buy and sell trends based on the position of its signal lines above or below the zero mark.
Tracking the indicator’s slope is another well-established technique that users of this indicator will appreciate.
The EUR/GBP M30 chart below displays the Blau T3 ECO Oscillator Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the filled lime green & dotted pale violet red lines of the Blau T3 ECO Metatrader 5 forex indicator break above the zero mark from below.
Sell Signal: Go short when the filled & dotted pale violet red lines of the Blau T3 ECO Metatrader 5 forex indicator dip below the zero mark from above.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the filled and dotted lines of the Blau indicator dip below the zero mark from above.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the filled and dotted lines of the Blau indicator surge above the zero level from below.
Tips: Currency traders can fully deploy the Blau T3 ECO Metatrader 5 fx indicator when designing a profitable trading strategy, that offers smooth market entries and subsequent exits.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (T3 period no. 1, T3 period no. 2, T3 signal line period, T3 hot, T3 original Tim Tillson calculation, Color based on :, Display style), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the Blau_-_T3_ergodic_candlestick_oscillator_1.02.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)