The Trend Reversal Signal indicator with trailing stop for Metatrader 5 provides successful trend reversal signals utilizing a proprietary trading strategy.
On the price chart, you’ll notice a sequence of successive colored candles accompanied by a trailing stop loss line.
How to interpret the buy and sell reversal signals?
- A bullish trend reversal occurs when the blue colored candle appears on the chart.
- A bearish trend reversal occurs when the red colored candle appears on the chart.
The following indicator inputs and parameters can be fully customized: reversal, delta, show the reversal levels, show the trends info, and number of trends.
The indicator signals work for any trading instrument supported by the Metatrader 5 charting platform.
Familiarize yourself with this technical indicator and test it first on a demo account for an extended period.
Scalpers and day traders can maximize their profit potential by employing the Trend Reversal Signal indicator during the London and American trading hours.
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The picture below illustrates how the Trend Reversal Signal indicator with trailing stop looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Trend Reversal Signal Indicator With Trailing Stop?
Find a simple trading strategy below:
- Initiate a buy trade when the dark blue colored candle bar is shown on the chart.
- Place a stop loss below the blue colored trailing stop loss line.
- Trail your stop loss up just below the blue colored line until you ultimately get stopped out from the long trade.
- Optional: close the buy trade for a profit target of your preference.
- Initiate a sell trade when the red colored candle bar gets shown on the chart (see chart example above).
- Place a stop loss above the tomato colored trailing stop loss line.
- Trail your stop loss down just above the tomato colored line until you ultimately get stopped out from the short trade.
- Optional: close the sell trade for a profit target of your preference.
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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 breakoutbarstrend_v2.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