The Silence Metatrader 5 forex indicator is a technical tool that displays market activity in a smart way.
The blue dotted horizontal line (marked at 50) is the average line and represents the aggressiveness percentage i.e. the rate of price change.
The red horizontal line represents the volatility percentage or the corridor value and is placed on the zero mark.
The silence Metatrader 5 custom indicator depicts one of the variants of normalization of any technical indicator i.e. carrying the indicator that changes in an unlimited interval to the form when it begin changing in a limited range.
The interval is set between 0 and 100.
The USD/JPY H4 chart below displays the Silence Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the blue line of the silence Metatrader 5 forex indicator breaks above the 50 level.
Sell Signal: Go short when the blue line of the silence Metatrader 5 forex indicator breaks below the 50 level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the blue line of the silence MT5 fx indicator dips below the 50 level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the blue line of the silence MT5 fx indicator surges above the 50 level.
Tips: Incorporate the Silence Metatrader 5 technical indicator into any intraday or scalping trading strategy to ramp up profitability.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (volatility period, extremums searching period, horizontal shift of 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 silence.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)