The MA Ribbon Signal indicator for Metatrader 5 is a popular trend analysis tool offering reliable signals for buying and selling pairs in the Forex market.
The indicator utilizes moving averages as the foundation to generate the best possible trend signals.
- A blue colored MA Ribbon indicates an uptrend.
- An orange colored MA Ribbon indicates a downtrend.
- Suitable for scalpers, day traders, and swing traders.
The indicator offers the following customizable options to suit individual preferences: fast average period, slow average period, method, price to use, and multiple alerts.
It can be combined with any trading strategy for additional trend confirmation, or simply as a standalone buy/sell signal tool.
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The following picture shows what the MA Ribbon Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs Utilizing The MA Ribbon Signal Indicator?
Find a simple trading example below:
- The blue colored MA Ribbon generates a buy signal (see chart example above).
- Execute a buy market order and set a protective stop below swing support.
- Exit the buy trade for a potential reward to risk ratio of 1.5.
- Alternatively: wait for the orange colored MA Ribbon to close trade long trade.
- The orange colored MA Ribbon generates a sell signal.
- Execute a sell market order and set a protective stop above swing resistance.
- Exit the sell trade for a potential reward to risk ratio of 1.5.
- Alternatively: wait for the blue colored MA Ribbon to close trade short 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 MA_ribbon_1.1.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