The Smoothed repulse Metatrader 5 Forex indicator gauges and displays the bullish or bearish pressure linked with each price candlestick in the form of a curve.
The Smoothed repulse MT5 Forex indicator is more relevant when compared to price and offers traders dependable extra information on the feeling and assurance that investors have about the markets.
The Metatrader 5 versions deploys one of the four basic averages types used for smoothing.
The selection of coloring can be done via the following:
- Outer levels cross
- Middle (“zero”) level cross
The Smoothed repulse Metatrader 5 Forex indicator is not limited to known limits, although it has dynamic levels – the “zero” value inclusive.
This feature makes it more responsive during sessions of heightened volatility.
Alerts are mostly triggered based on change in color.
The AUD/USD M15 chart below displays the Smoothed Repulse Metatrader 5 forex indicator in action
Basic Trading Signals
Buy Signal: Go long when the line of the Smoothed_repulse_2 Metatrader 5 Forex indicator turns lime green.
Sell Signal: Go short when the line of the Smoothed_repulse_2 Metatrader 5 Forex indicator turns orange red.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the lime green line of the Smoothed_repulse_2 MT5 Forex indicator turns silver.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the orange red line of the Smoothed_repulse_2 MT5 FX indicator turns silver.
Tips: The Smoothed_repulse_2 Metatrader 5 custom Forex indicator is suitable for scalping, hence it should be used on smaller timeframes.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (repulse period, Repulse average method, repulse average multiplier, Color change on, Levels period, Upper level, Lower level, Turn alerts on?, Alert on current bar?, Display messages on alerts?, Play sound on alerts?, Send email on alerts?, Send push notification on alerts?), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: oscillator | trend
Copy and paste the Smoothed_repulse_2.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)