The Volty Channel Stop indicator for Metatrader 5 is a popular Forex tool that predicts accurate trend reversals for any currency pair and time frame.
The indicator alternates between buy and sell signals.
When applied to a price chart, the indicator appears as a blue and red colored signal line below and above the candlesticks.
Trading with the Volty Channel Stop indicator is simple and works as follows:
- The blue line below the candlesticks provides a buy trade opportunity.
- The red line above the candlesticks generates a sell trade opportunity.
- The Volty Channel Stop indicator can also serve as a simple-to-use trailing stop loss tool.
The indicator offers the following customizable inputs and parameters: visual mode, MA period, MA method, MA price, ATR period, volatility factor, use envelopes, use alerts, use break, and colors.
Test the indicator first on a demo account before using it on a real trading account.
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The image below shows how the Volty Channel Stop indicator looks when applied to the MT5 charting platform.
How To Buy And Sell Forex Pairs With The Volty Channel Stop Indicator?
Find a simple trading example below:
- A buy signal is given when the blue colored Volty Channel Stop line gets displayed on the price chart.
- Open a buy market order and place your stop loss below the blue colored line.
- Reverse the buy position promptly when the red colored signal line appears on the chart.
- A sell signal is given when the red colored Volty Channel Stop line gets displayed on the price chart.
- Open a sell market order and place your stop loss above the red colored line.
- Reverse the sell position promptly when the blue colored signal line appears on the chart.
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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 volty_channel_stop.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