Skip to content

Simple Decycler Metatrader 5 Forex Indicator

    The Simple Decycler Metatrader 5 forex indicator is a technical indicator created by John F. Ehlers.

    It’s based on his article on “Decyclers” in the “Technical Analysis of Stocks & Commodities” (September 2015) magazine edition.

    The indicator is comprised of three distinctly colored lines i.e. red (top), blue (middle or decider) and green (bottom).

    If the price of the currency pair is above the upper or top line, then the market is tagged bullish, while if price is below the lower or bottom line, a bearish trend is said to be in the making.

    When price is found between these lines, the currency pair is said to be in a range bound condition.

    Free Download

    Download the “Simple_Decycler.ex5” MT5 indicator

    Example Chart

    The AUD/USD H1 chart below displays the Simple Decycler Metatrader 5 forex indicator in action.

    Basic Trading Signals

    Buy Signal: Go long when price opens and closes above the blue middle line of the Simple Decycler Metatrader 5 forex indicator.

    Sell Signal: Go short when price opens and closes below the blue middle line of the Simple Decycler Metatrader 5 forex indicator.

    Exit buy trade: Close all buy orders if while a bullish trend is ongoing, price closes below the blue middle line of the Simple Decycler MT5 indicator.

    Exit sell trade: Close all sell orders if while a bearish trend is running, price closes above the blue middle line of the Simple Decycler MT5 indicator.

    Tips: During range bound markets, price is seen to bounce off the upper and lower lines (which acts as resistance and support levels), while price could continue to trade well beyond the upper/lower boundaries of the Simple Decycler indicator during trending markets.

    Download

    Download the “Simple_Decycler.ex5” Metatrader 5 indicator

    MT5 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 5

    Type: chart pattern indicator

    Customization options: Variable (HP period, Applied price), width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: trend

    Installation

    Copy and paste the Simple_Decycler.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)

    Share this post!