The Magnified Market Price indicator for Metatrader 5 displays the real-time market price for any Forex pair or trading instrument in different colors.
By default, the indicator is positioned in the lower left section of the screen.
The color scheme employed is as follows:
- Rising market price: lime color.
- Falling market price: magenta color.
- Unchanged market price: gray color.
You have the flexibility to adjust the indicator’s settings and parameters, such as the displayed price type, colors for rising, falling, and unchanged prices, font size, font type, and location corner.
This indicator is compatible with all time frames and Forex pairs.
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The following picture shows how the Magnified Market Price indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Magnified Market Price Indicator?
The Magnified Market Price indicator does not generate any trading signals.
Please combine this tool with buy/sell technical indicators or with an existing trading system of your preference.
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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 magnified_market_price.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