The Forex Trend Breakout Buy/Sell indicator for Metatrader 5 alerts you once the price is breaking out of its tight trading range.
How does it generate trading signals?
A green arrow is presented when the trend is breaking upward, whereas a red arrow is presented when the trend is breaking downward.
This signal indicator should work equally well for any currency pair and time frame.
The indicator includes several inputs and parameters, such as active or passive trading, send email, audible alerts, push alerts, and more.
Becoming familiar with this technical indicator and thoroughly testing it on a demo account for an extended period is advisable.
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BDA Trend Breakouts.ex5 Indicator (MT5)
Chart Example
The picture below illustrates how the Forex Trend Breakout Buy/Sell indicator looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs Using The Forex Trend Breakout Buy/Sell Indicator?
Find a simple trading strategy below:
Buy Signal
- A green colored arrow creates a buy signal.
- Execute a buy market order and place a stop loss below the previous swing low.
- Close the buy trade for a fixed profit target, for example, +15 pips on the 5-minute chart.
- Optionally: await a sell arrow to close the buy trade.
Sell Signal
- A red colored arrow creates a sell signal.
- Execute a sell market order and place a stop loss above the previous swing high.
- Close the sell trade for a fixed profit target, for example, +20 pips on the 15-minute chart.
- Alternatively: await a buy arrow to close the sell trade.
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BDA Trend Breakouts.ex5 Indicator (MT5)
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 BDA Trend Breakouts.ex5 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 on the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on the properties
- Now you can edit the inputs, colors, levels, scale, and visualization
- Finally, click the OK button to save the new configuration