The Forex Trend Dashboard indicator for Metatrader 5 analyses the trend across multiple time frames and delivers buy and sell trade recommendations for any pair.
It’s based on 3 technical indicators: Stochastic, RSI, and CCI.
The indicator gives a clear overview of how the trend behaves across multiple time frames.
How to trade with the Trend Dashboard indicator for MT5?
- A strong buy signal occurs when all indicators indicate a buy recommendation.
- A strong sell signal occurs when all indicators suggest a sell recommendation.
The indicator includes several inputs and parameters, such as Stochastic settings, RSI settings, CCI settings, time frame settings, alerts, colors, and more.
Before implementing the trend dashboard in live trading, it’s advisable to become familiar with this technical indicator and thoroughly test it on a demo account for an extended period.
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Trend Dashboard Indicator.mq5 Indicator (MT5)
Chart Example
The picture below illustrates how the Forex Trend Dashboard indicator looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs Using The Forex Trend Dashboard Indicator?
Find a simple trading strategy below:
Buy Signal
- A strong buy signal is generated when all technical indicators show a buy recommendation.
- Initiate a buy transaction and add a stop loss below the most recent swing low level.
- Close the buy transaction for a risk/reward ratio of at least 1.5.
- Alternatively: await a sell signal to close the buy trade.
Sell Signal
- A strong sell signal is generated when all technical indicators show a sell recommendation.
- Initiate a sell transaction and add a stop loss above the most recent swing high level.
- Close the sell transaction for a risk/reward ratio of at least 1.5.
- Alternatively: await a buy signal to close the sell trade.
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Trend Dashboard Indicator.mq5 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 Trend Dashboard Indicator.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 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