The Buy Sell Trend Value Forex indicator for Metatrader 5 offers highly effective buy and sell trend signals, perfect for currency traders.
This indicator cleverly combines moving averages with the Average True Range indicator to generate reliable trading signals.
Here’s how the trading signals are represented:
- A blue colored arrow is a buy trade opportunity.
- A red colored arrow is a sell trade opportunity.
The indicator provides the flexibility to customize the following variables and values: moving averages period, ATR period, ATR shift, and color scheme.
Before implementing the Buy Sell Trend Value indicator on a live account, we strongly advise testing it on a demo account.
Familiarize yourself with its functionalities and observe its performance across various market conditions.
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Here is what the Buy Sell Trend Value indicator looks like when applied to the MT5 trading chart.
How To Buy And Sell Forex Pairs With The Buy Sell Trend Value Indicator?
Find a simple trading example below:
- A blue colored arrow triggers a buy signal.
- Initiate a buy market order and set a protective stop order below the blue dashed line.
- Exit the buy trade promptly when the red colored arrow gets displayed on the chart.
- Alternatively, close the buy trade for a fixed number of pips.
- A red colored arrow triggers a sell signal.
- Initiate a sell market order and set a protective stop order above the red dashed line.
- Exit the sell trade promptly when the blue colored arrow gets displayed on the chart.
- Alternatively, close the sell trade for a fixed number of pips.
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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 trendvalue.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