Forex Trend Analyzer Tool (TAT) for Metatrader 5 is composed of several technical indicators and provides trend trading signals to currency traders.
All indicators used have been transformed into one easy-to-use trading tool that appears in a separate chart window.
How does it generate trading signals?
- A buy signal occurs when the green colored histogram bars appear above 0.
- A sell signal occurs when the green colored histogram bars appear below 0.
The following indicator inputs and parameters can be modified: MACD settings, SAR settings, TAT signal period, TAT overbought, TAT oversold.
Tip for scalping with the Forex Trend Analyzer:
- Deploy on the low-spread currency pairs to avoid excessive spread costs.
- Trade only during the most volatile trading hours for best performance.
It supports all time frames, Forex pairs, Indices, Stocks, Metals, etc.
Please make yourself familiar with this technical indicator and test it first on a demo account before using it on real trading account.
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Chart Example
The following chart shows how the Forex Trend Analyzer looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Forex Trend Analyzer Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is formed when the green colored histogram bars cross back above 0 (see chart example).
- Initiate a buy order and set a stop loss below the previous swing low region.
- Exit the long trade for a fixed take profit target, or wait for a sell signal.
Sell Signal
- A sell signal is formed when the green colored histogram bars cross back below 0.
- Initiate a sell order and set a stop loss above the previous swing high region.
- Exit the short trade for a fixed take profit target, 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 TAT.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