The Forex Off Trend indicator designed for Metatrader 5 is a popular non-repaint cloud signals tool that delivers precise buy and sell entry signals.
The indicator appears as pale-green and violet colored clouds on the price chart.
The non-repainting signal clouds can be used by any trader, regardless of trading experience.
How does it function?
- The pale-green cloud signals a buy market trend.
- The violet colored cloud signals a sell market trend.
The indicator contains the following variables and parameters: period, up color, down color, K max, style.
Make yourself familiar with the Forex Off Trend indicator and test it first on a demo account before applying it to a real trading account.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
Download Indicator 🆓
The picture below shows how the Forex Off Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs Utilizing The Forex Off Trend Indicator?
Find a simple trading example below:
- The appearance of the pale-green colored Forex Off Trend cloud is a buy signal.
- Initiate a buy market order and place a stop loss below the previous swing low zone.
- Exit and reverse the buy trade when the violet colored cloud gets shown on the chart.
- The appearance of the violet colored Forex Off Trend cloud is a sell signal.
- Initiate a sell market order and place a stop loss above the previous swing high region
- Exit and reverse the sell trade when the pale-green colored cloud gets shown on the chart.
Download Now 🆓
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 forexofftrend.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