The Sadukey Forex indicator for Metatrader 5 is a popular buy & sell trend signals tool that works for any currency pair and time frame.
The indicator appears in the price chart as a series of colored candles that appear above and below the actual candlesticks.
The Sadukey trade logic works as follows:
- The market state is bullish when the green colored Sadukey candle appears below the candlestick.
- The market state is bearish when the brown colored Sadukey candle appears above the candlestick.
The indicator allows customizing the following settings and parameters: buy and sell colors.
The Sadukey indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
For M1 and M5 chart traders: deploy the indicator on the lower spread pairs and use it during the London and New York trading sessions.
Please make yourself familiar with this technical indicator and test it first on a demo account before using it on a real account.
It supports all time frames and Forex pairs.
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Chart Example
The following chart shows how the Sadukey indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Sadukey Signal Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal arises when the green colored Sadukey candle appears on the price chart.
- Open a buy trade and place a protective stop loss below technical support.
- Exit the long trade for a fixed profit target, or wait for the brown colored bearish Sadukey reversal candle.
Sell Signal
- A sell signal arises when the brown colored Sadukey candle appears on the price chart.
- Open a sell trade and place a protective stop loss above technical resistance.
- Exit the sell trade for a fixed profit target, or wait for the green colored bullish Sadukey reversal candle.
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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 Sadukey.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