Technical Indicators for MetaTrader 5

Easy Trend MQL5

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Information

Indicators
MetaTrader 5
5
David Jumbo
23 May 2019
1.0

Overview

This Indicator is based on four moving averages and the PIVOT points.

The indicator provides clarity to trading, especially in ranging markets when price is very slow and tight.

You can trade intensively daily, every day with this indicator. You may decide to trade with this indicator alone and get the maximum out of the market.

The indicator was designed with high frequency insight, timing and perfect entry/exit principles.

The arrows will point you in the likely direction of price depending on the time frame. Each time frame has it's own price movement/direction.

(1) The blue line shows the up trend and buy range/area.

(2) The yellow line shows the beginning of the end of buy, and the possible beginning of selling. The yellow line also serve as a support signal area when the trend is bullish. If you are an active daily trader, use the yellow line as signal for quick sell order and exit once it turns blue. If you are a conservative trend trader use the yellow line to gauge an entry point when the trend is bullish.  

(3) The red line shows the down trend and sell range/area

(4) The green line shows the beginning of the end of sell, and the possible beginning of buying. The green line also serve as a resistance signal area when the trend is bearish. If you are an active daily trader, use the green line as signal for quick buy order and exit once it turns blue. If you are a conservative trend trader use the green line to gauge an entry point when the trend is bearish.  

The indicator can be used on any time frame, but I find it most effective on 30 minutes and 1 hour time frame.

If the market is ranging and confusing, use vertical lines to demarcate the coloured lines and you will see short term buy/sell opportunities.

When the trend is strong use the indicator to find good entry exits.

If you have questions or require clarification, I will be glad to help.

 

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