Just like the name implies, the Precision Trend Metatrader 5 forex indicator is a well-known precision trend indicator formulated into a histogram version.
The indicator provides forex traders with easy to read buy and sell trading signals for any currency pair.
Due to some of its unique features that makes it standout from its contemporaries, the Precision Trend MT5 indicator is worth implementing as a standalone scalping indicator or together with other technical indicators for day trading or swing trading purposes.
Although, it tends to be an amazing trend indicator, it can also be used to gauge reversals.
The coloring of the histograms is such that it offers users adequate information on the state of the market.
Lime green and orange histograms are indicative of bullish and bearish market sentiments respectively.
The USD/CHF H4 chart below displays the Precision Trend Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the lime green histograms of the Precision Trend Metatrader 5 forex indicator gets aligned within the indicator window.
Sell Signal: Go short when the orange histograms of the Precision Trend Metatrader 5 forex indicator pops up within the indicator window.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the Precision Trend indicator displays an orange histogram.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Precision Trend indicator displays a lime green histogram.
Tips: The Precision trend MT5 indicator does not repaint and this is a good sign of things to come.
With reference to what to expect, the indicator certainly offers currency traders a high probability of success in a trending market.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Precision trend period, Precision trend sensitivity), 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 Precision_Trend_vhisto8.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)