The Sadukey Metatrader 5 custom Forex indicator is a product of the combination of two digital filters on the activity chart to offer us an assessment of current trend.
Unfortunately we are unware of the true nature of the digital filter.
It is quite likely that the filters were spawned by the digital filter generator that was present in the Metatrader 4 and those filters were seemingly deployed in this indicator.
Considering the absence of input parameters on the Sadukey MT5 custom forex indicator that can be used to tweak the indicator to our preferred setting, it is a useful forex MT5 indicator and also a quite reliable tool for trend traders.
The color scheme on the indicator by default is the sandy brown and lime green, with both depicting bearish and bullish market sentiment respectively.
The EUR/GBP M30 chart below displays the Sadukey Metatrader 5 forex indicator in action
Basic Trading Signals
Buy Signal: Go long when the sandy brown rectangular shaped objects of the Sadukey Metatrader 5 forex indicator trail the candlesticks from the bottom.
Sell Signal: Go short when the lime green rectangular shaped objects of the Sadukey MT5 forex indicator trail the candlesticks from the top.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, a sandy brown rectangular body pops up on the activity chart.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, a lime green rectangularbody pops up on the price chart.
Tips: Apply the Sadukey Metatrader 5 forex indicator in conjunction with various technical analysis systems with the aim of building a well-designed trading system.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: 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 Sadukey.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)