The Difference 2 Signals Metatrader 5 forex indicator is a buy/sell technical histogram oscillator.
It shows you the difference between the current price and the price of N periods in the past.
Furthermore, the Difference 2 Signals MT5 forex indicator is an improvement from the previous version, where the difference between the current values of bar price (High – Low or Close – Open) and those of the previous N periods is shown.
The former shows the difference between the current applied prices and those of N periods ago.
This indicator provides you with easy to read oscillator trading signals in a separate MT4 window.
The EUR/USD H1 chart below displays the Difference 2 Signals Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the histograms (green & red) of the Difference 2 Signals Metatrader 5 forex indicator get positioned above the zero center level.
Sell Signal: Go short when the histograms (green & red) of the Difference 2 Signals Metatrader 5 forex indicator get aligned below the zero center level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, a red histogram of the Difference 2 MT5 indicator pops up below the zero signal level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, a green histogram of the Difference 2 MT5 indicator pops up above the zero signal level.
Tips: Interestingly, the Difference 2 Signals technical currency indicator is an amazing short-term scalping trading tool.
It can also do well when adequately tweaked for long-term trading purposes.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Period, Calculation type, Applied price), 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 Difference2.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)