The Precision Trend indicator for Metatrader 5 forecasts currency trends and delivers robust buying and sell opportunities to all kind of traders.
The indicator will create less false signals due to the sensitivity filter being used.
Precision Trend appears in a sub-chart window as a series of green and orange colored trend histogram bars.
How to interpret this indicator?
- A green colored trend bar indicates an uptrend.
- An orange colored trend bar indicates a downtrend.
The following indicator inputs and parameters can be modified: precision trend period, and precision trend sensitivity.
Trading tips:
- For short-term currency traders, deploy the indicator during the most volatile trading hours for the best success rate.
- Swing traders can use Precision Trend successfully on the 1-hour, 4-hour, and daily charts.
Please make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
This trend indicator is valuable, lightweight, and could help you to make informed buy and sell trade decisions.
It supports all time frames and Forex pairs.
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Precision_Trend_vhisto8.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Precision Trend Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Precision Trend Indicator?
Find a simple trading strategy below:
Buy Signal
- The first green colored bar creates a buy signal.
- Open a buy market order and place a stop below the most recent support zone.
- Exit the buy trade for a risk/reward ratio of at least 1.5, or close the trade for a fixed pip target.
Sell Signal
- The first orange colored bar creates a buy signal.
- Open a sell market order and place a stop above the most recent resistance zone.
- Exit the sell trade for a risk/reward ratio of at least 1.5, or close the trade for a fixed pip target.
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Precision_Trend_vhisto8.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 Precision_Trend_vhisto8.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