The Guppy Forex Trend indicator for MT5 is also known as the Guppy Multiple Moving Average (GMMA) and it’s a powerful trend indicator.
The Guppy indicator consists of two groups of moving averages:
A group of short-term EMAs and a group of long-term EMAs.
How do you trade Forex with it?
- A buy trend occurs when the short-term EMAs cross above the long-term EMAs.
- A sell trend occurs when the short-term EMAs cross below the long-term EMAs.
The following indicator inputs and variables can be modified: time frame, guppy MAs price, guppy, MAs method, starting color, ending color, and interpolate.
Before implementing the Guppy Forex Trend indicator in real trading, familiarize yourself with its workings and conduct thorough testing on a demo account.
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The picture below shows how the Guppy Forex Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Guppy Forex Trend Indicator?
Find a simple trading example below:
- A buy signal is given when the green colored Guppy moving averages turn back above the purple colored Guppy moving averages from below (see chart example above).
- Open a long trade and set a protective stop loss below technical support.
- Exit the buy position for a fixed pips profit target, or simply wait for a sell signal to close and reverse the buy trade.
- A sell signal is given when the green colored Guppy moving averages turn back below the purple colored Guppy moving averages from above.
- Open a short trade and set a protective stop loss above technical resistance.
- Exit the sell position for a fixed pips profit target, or simply wait for a buy signal to close and reverse the sell trade.
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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 guppy_mma.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