The Chaos Zone indicator for Metatrader 5 is a Forex scalper that spots multiple buy & sell trade opportunities every day using short-term time frames.
We will be looking for 5-20 pips per trade (depending on your favorite time frame).
The indicator consists of a series of green, purple, and gray colored bars.
It works as follows:
- A green colored bar indicates short-term bullish pressure.
- A purple colored bar indicates short-term bearish pressure.
- Gray colored bars are considered neutral.
The indicator offers the following inputs and parameters for customization: colors, bar style.
The Chaos Zone Scalper should work for any trading instrument that can be loaded in the Metatrader 5 platform.
Deploy the indicator on the lower spread Forex pairs for best overall trading performance.
Please make yourself familiar with this technical indicator and test it first on a demo account before using it on a real account.
It supports all time frames and Forex pairs.
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Chaos zone.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Chaos Zone Scalper looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Chaos Zone Indicator?
Find a simple trading example below:
Buy Signal
- The first green colored Chaos Zone bar is a buy signal.
- Initiate a buy order and place your stop loss below short-term support.
- Exit the buy trade for 5-20 pips (depending on your chosen time frame).
Sell Signal
- The first purple colored Chaos Zone bar is a sell signal.
- Initiate a sell order and place your stop loss above short-term resistance.
- Exit the sell trade for 5-20 pips (depending on your chosen time frame).
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Chaos zone.mq5 Indicator (MT5)
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 Chaos zone.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