The Trade Booster Forex indicator for Metatrader 5 is the perfect trading tool designed to cater to traders seeking robust trend trading signals.
This indicator is displayed in a separate chart window, represented by a line in blue, red, and green color.
When the blue and green signal lines intersect, a buy or sell signal is generated.
- A bullish trend is identified when the blue colored line is positioned above the green colored line.
- A bearish trend is observed when the blue colored line is positioned below the green colored line.
The indicator contains the following inputs and parameters: fast MA period, type, slow MA period, price, colors.
Make yourself familiar with this technical indicator and test it first on a demo account.
It is compatible with all time frames and Forex pairs.
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The following image shows how the Trade Booster Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Trading Instruments Using The Trade Booster Forex Indicator?
Find a simple trading example below:
- A buy signal is confirmed when the blue colored line crosses the green colored line bottom up.
- Execute a buy trade and place your stop loss slightly below the most recent support zone.
- Buy take profit method: either close the buy trade at a predetermined take profit level, or hold the buy trade and await a sell signal.
- A sell signal is confirmed when the blue colored line crosses the green colored line top down.
- Execute a sell trade and place your stop loss above the most recent resistance region.
- Sell take profit method: either close the sell trade at a predetermined take profit level, or hold the sell trade and await a buy signal.
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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 ifxanalyser.mq5 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 in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration