The Smoothed Repulse Forex Signal indicator for Metatrader 5 is an oscillator built on the repulse trading method and it provides robust trading signals to traders.
The indicator appears as a gray colored cloud accompanied by a three-color signal line in a separate chart window.
It provides trading signals that work in both trending and ranging currency markets.
Understanding the Smoothed Repulse indicator:
- A green Repulse indicator line creates a buy signal.
- A red Repulse indicator line creates a sell signal.
The following indicator inputs and parameters can be modified: repulse period, repulse average method, repulse average multiplier, upper level, lower level, all alerts, mobile push alerts, etc.
The Smoothed Repulse trading indicator should perform equally well for any time frame and currency pair.
Become familiar with this robust signal indicator and give it a thorough test on a demo account before applying it to a live trading environment.
It supports all time frames and Forex pairs.
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Smoothed_repulse_2.mq5 Indicator (MT5)
Chart Example
The chart below illustrates what the Smoothed Repulse Forex Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Smoothed Repulse Forex Signal Indicator?
Find a simple trading strategy below:
Buy Signal
- The green Smoothed Repulse line signals a buy trade entry.
- Execute a buy market order and place a protective stop loss below support.
- Close the buy trade when the orange colored Repulse sell line appears on the chart.
- Optional: exit the long trade for a predetermined profit target.
Sell Signal
- The red Smoothed Repulse line signals a sell trade entry.
- Execute a sell market order and place a protective stop loss above resistance.
- Close the sell trade when the green colored Repulse buy line appears on the chart.
- Optional: exit the short trade for a predetermined profit target.
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Smoothed_repulse_2.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 Smoothed_repulse_2.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