Using the hull average to calculate the Super trend indicator yields the Super Trend Hull Metatrader 5 custom forex indicator.
The indicator also incorporates the ATR within its algorithm as a means of modifying its signal mode.
This amazing forex indicator is a standalone technical tool that does not require any other indicator in order to function.
Similarly, unlike the different Metatrader 4 indicator versions of the super trend technical indicators, this one does not repaint.
When activated, the indicator pops up on the chart in the form of a simple line that changes its color between lime green and pale violet red to define market trends.
The EUR/USD H1 chart below displays the Super Trend Hull Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the color of the Super Trend Hull Metatrader 5 custom forex indicator line turns lime green.
Sell Signal: Go short when the color of the Super Trend Hull Metatrader 5 custom forex indicator line turns pale violet red.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the line of the MT5 indicator turns pale violet red.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the line of the MT5 indicator turns lime green.
Tips: As a standalone Metatrader 5 indicator, the Super Trend Hull is an easy-to-use technical tool that a lot of scalpers and day traders will certainly fall in love with once you get a hands-on.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (Hull period, Price, ATR period, ATR multiplier), 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 super_trend_hull.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)