The Mikahekin Forex system for Metatrader 5 is based on a proprietary trading method and it delivers solid buy & sell trading signals to traders.
The trading system shows up in the chart as a trading channel along with green and red colored signal candles.
It can be used as a standalone trading tool for both trade entry and exit.
How does the Mikahekin system generate buy & sell signals?
- A green colored Mikahekin candle is a buy signal.
- A red colored Mikahekin candle is a sell signal.
The indicator allows customizing the following settings and parameters: K period, J period, colors, and style.
The Mikahekin Forex system should work equally well for any trading instrument that supports the MT5 trading platform.
Please make yourself familiar with this system and test it first on a demo account before using it in a real trading account.
Its overall performance will vary depending on market conditions, remember to have realistic expectations.
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Mikahekin_System.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Mikahekin trading system looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Mikahekin Forex Trading System?
Find a simple trading example below:
Buy Signal
- A buy signal is confirmed when the first green colored Mikahekin candle shows up in the price chart (see example above).
- Initiate a buy transaction and place a protective stop below the Mikahekin trading channel.
- Exit the buy trade for a fixed take profit, or reverse the trade when the first red colored Mikahekin candle appears in the chart.
Sell Signal
- A sell signal is confirmed when the first red colored Mikahekin candle shows up in the price chart (see example above).
- Initiate a sell transaction and place a protective stop above the Mikahekin trading channel.
- Exit the sell trade for a fixed take profit, or reverse the trade when the first green colored Mikahekin candle appears in the chart.
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Mikahekin_System.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 Mikahekin_System.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