The Forex Trend Reversal Alert indicator for Metatrader 5 identifies bullish and bearish trend reversals on the chart and sends out arrow alerts.
The indicator is displayed in the price chart as blue and red colored alert arrows.
It’s an easy-to-use trend reversal signals indicator that works best in sideways market conditions.
How to trade with it?
- A red arrow signals a bullish trend reversal trade.
- A blue arrow signals a bearish trend reversal trade.
The following indicator inputs and parameters can be modified: filter candle, and arrow colors.
For scalping and intraday traders: the indicator tends to produce the best results during the London and American trading sessions.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
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Reverse No Repair.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Forex Trend Reversal Alert indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Forex Trend Reversal Alert Indicator?
Find a simple trading example below:
Buy Signal
- A red arrow is a buy signal alert.
- Open a buy trade and place a protective stop loss below immediate support.
- Close the buy trade for a fixed take profit target or wait for the blue sell arrow.
Sell Signal
- A blue arrow is a sell signal alert.
- Open a sell trade and place a protective stop loss above immediate resistance.
- Close the sell trade for a fixed take profit target or wait for the red buy arrow.
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Reverse No Repair.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 Reverse No Repair.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