The Turbo Moving Average indicator for Metatrader 5 is an enhanced moving average that offers improved accuracy in predicting trends.
While the turbo moving average incorporates various colors, the trading rules associated with it are quite straightforward, making it accessible even to beginners.
How can you determine the currency trend?
- If the candles are trading above the turbo moving average, it indicates a bullish market trend.
- If the candles are trading below the turbo moving average, it suggests a bearish market trend.
- Whenever a candle crosses above or below the turbo moving average, a new buy or sell signal is generated.
You have the flexibility to customize the following inputs and parameters of the indicator: MA length, applied price, fast up color, fast down color, and angle threshold.
It is advisable to familiarize yourself with this technical indicator and test it on a demo account before implementing it in a real trading account.
The indicator is compatible with all time frames and Forex pairs.
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The image below shows how the Turbo Moving Average indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Turbo Moving Average Indicator?
Find a simple trading strategy below:
- A buy signal is given when the candle crosses above the Turbo MA from below.
- Execute a buy market order and add a stop order below technical support.
- Exit the buy trade for a fixed profit target that suits your preferences, or wait for a sell signal.
- A sell signal is given when the candle crosses below the Turbo MA from above.
- Execute a sell market order and add a stop order above technical resistance.
- Exit the sell trade for a fixed profit target that suits your preferences, or wait for 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 moving_averages.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