The BvsB Trend Spotting Metatrader 5 custom forex indicator was designed for spotting trends.
The indicator is comprised of two lines (green and red), that oscillates around the zero level.
The intersection of the indicator lines (green and red), will compel traders to open buy/sell trade positions.
However, when the lines of BvsB Metatrader 5 forex indicator consistently converge, it is an indication of a fading trend.
Basically, this forex indicator combines Bulls and Bears Power technical indicators with one of them being turned upside down.
Traders can decide on adjusting the MA input parameter to arrive at a convenient setting that suits their trading habits.
The GBP/USD H1 chart below displays the BvsB Trend Spotting Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the lines (green and red) of the bvsb Metatrader 5 custom forex indicator crosses with the red line staying above both the green line and the zero level.
Sell Signal: Go short when the lines (green and red) of the bvsb Metatrader 5 custom forex indicator crosses with the green line hovering above both the red line and the zero level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the lines (green and red) of the bvsb MT5 fx indicator intersects.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the lines (green and red) of the bvsb MT5 fx indicator crosses.
Tips: The bvsb Metatrader 5 forex indicator is an effective trend tool that can readily serve scalpers, medium and long term traders alike.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (MA Period, Ma Method, Applied Price, NeedBars), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: oscillator | trend
Copy and paste the bvsb.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)