The Strong Buy and Strong Sell indicator for Metatrader 5 generates strong buy and sell Forex signals based on 4 different time frames.
The time frames used in its calculations are: M15, H1, H4, and D1.
The indicator gets loaded in the price chart as simple to use buy and sell signal arrows.
Finding buying and selling opportunities with this indicator is easy and works as follows:
- A green colored arrow represents a strong buy signal.
- A red colored arrow represents a strong sell signal.
This signal indicator should work equally well for any currency pair and time frame.
The indicator includes several inputs and parameters: fast MA, slow MA, investment castle, period multiplier, push notifications, desktop alerts, and more.
Becoming familiar with this technical indicator and thoroughly testing it on a demo account for an extended period is advisable.
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Chart Example
The picture below illustrates how the Strong Buy and Strong Sell Forex indicator looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs Using The Strong Buy and Strong Sell Indicator?
Find a simple trading strategy below:
Buy Signal
- A buy signal is generated when the green colored Strong Buy arrow is displayed on the chart.
- Execute a buy market order and place a stop loss below the most recent swing low level.
- Close the buy trade for a profit target that suits your preference.
- Alternatively: await a strong sell arrow to close the buy trade.
Sell Signal
- A sell signal is generated when the red colored Strong Sell arrow is displayed on the chart.
- Execute a sell market order and place a stop loss above the most recent swing high level.
- Close the sell trade for a profit target that suits your preference.
- Alternatively: await a strong buy arrow to close the buy trade.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Chances.ex5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click on the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on the properties
- Now you can edit the inputs, colors, levels, scale, and visualization
- Finally, click the OK button to save the new configuration