The MA AO Arrow indicator for Metatrader 5 is a fast Forex scalper indicator that works well during the most active trading hours.
The indicator is composed of moving averages that look for the best short-term currency trend.
As soon as the trend turns in the opposite direction, it will paint a buy or sell arrow on the chart.
- A blue colored arrow is bullish.
- A red colored arrow is bearish.
Tip: For day traders, change the MA averaging period to 50 or higher.
The following indicator inputs can be modified to suit your preferences: MA averaging period, horizontal shift, MA smoothing type, and arrow type.
Make yourself familiar with this solid technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
Download Indicator 🆓
MA AO Arrow.mq5 Indicator (MT5)
Chart Example
The following chart shows what the MA AO Arrow Forex scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The MA AO Arrow Forex Scalper Indicator?
Find a simple trading example below:
Buy Signal
- The first blue arrow signals a bullish short-term trend.
- Open a buy trade and place your stop loss below immediate support.
- Close the buy trade for a fixed take profit target (for example, 15 pips on the 5-minute chart).
Sell Signal
- The first red arrow signals a bearish short-term trend.
- Open a sell transaction and place your stop loss above immediate resistance.
- Close the sell trade for a fixed take profit target (for example, 8 pips on the 1-minute chart).
Download Now 🆓
MA AO 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 MA AO 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