The Trigger Signal Line indicator for Metatrader 5 is an out of the box Forex solution that provides robust trading signals to all kinds of traders.
You can easily use it as a standalone buy and sell technical analysis tool.
Here’s how you should interpret the signals:
- A buy signal occurs when the purple colored trigger line appears on the chart.
- A sell signal occurs when the red colored trigger line appears on the chart.
That’s all you should know about trading with this indicator!
Take a look at the complete strategy down below the page and try it.
The indicator offers the following inputs and parameters for customization: trigger period, LSMA period, and show arrow.
The Trigger Signal Line indicator works for any trading instrument supported by the Metatrader 5 charting platform.
Please make yourself familiar with the Trigger Line indicator and test it first on a demo account before applying it to a real account.
It supports all time frames and Forex pairs.
Download Indicator 🆓
TriggerLine_with_Arrow.mq5 Indicator (MT5)
Chart Example
The picture below illustrates what the Forex Trigger Signal Line indicator looks like when applied to the MT5 chart.
How To Buy And Sell Pairs With The Forex Trigger Signal Line Indicator?
Find a simple trading strategy below:
Buy Signal
- A buy signal is generated when the purple trigger line appears on the price chart.
- Place a stop order below the previous swing low region.
- Take profit method 1: close and reverse the buy trade when the red trigger line gets shown on the chart.
- Take profit method 2: exit the buy trade for a fixed take profit of your own preference.
Sell Signal
- A sell signal is in place when the red trigger line appears on the price chart.
- Place a stop order above the previous swing high region.
- Take profit method 1: close and reverse the sell trade when the purple trigger line gets shown on the chart.
- Take profit method 2: exit the sell trade for a fixed take profit of your own preference.
Download Now 🆓
TriggerLine_with_Arrow.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 TriggerLine_with_Arrow.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