The NonLagDot Supply and Demand Metatrader 5 Forex indicator is a supply and demand technical tool that calculates a possible trend taking into account market forces domination.
The indicator is visually easy to grasp, considering its appearance (it shows up as colored dots tracing price bars as the market moves along).
The color of the dots gives us vital information on the possible direction of the trend i.e. the green dots denotes bullish market sentiments, while the magenta dots represents bearish market sentiments.
The nonlagdot MT5 forex indicator applies four different smoothing method to price i.e. simple, exponential, smoothed and linear weighted.
The USD/CHF M30 chart below displays the Nonlagdot Supply and Demand Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the nonlagdot forex indicator pops up green dots that are placed slightly below price bars.
Sell Signal: Go short when the nonlagdot forex indicator pops up magenta dots that are placed slightly above price bars.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the nonlagdot MT5 forex indicator pops up magenta dots on the activity chart.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the nonlagdot MT5 forex indicator pops up green dots on the price chart.
Tips: The nonlagdot Metatrader 5 forex indicator should be used to spot trend on smaller time frames. Just excellent for scalpers and day traders.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (Applied price, Smoothing method, Indicator calculation period, Filter, Deviation, Horizontal shift of the indicator in bars), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the nonlagdot.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)