The SQ Forex Price Prediction indicator for Metatrader 5 is a moving average type oscillator that provides signals for scalpers and day traders.
The indicator appears in a separate chart window as blue colored bars that oscillate above and below zero.
How to spot bullish and bearish trends with it?
- The trend is considered bullish when the blue bars appear above zero.
- The trend is considered bearish when the blue bars appear below zero.
The SQ Forex Price Prediction oscillator works for any trading instrument that can be loaded in the Metatrader 5 platform.
The following indicator inputs can be modified: moving average period, moving average mode, and backward sampling period.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
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Chart Example
The following chart shows what the SQ Forex Price Prediction indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The SQ Forex Price Prediction Indicator?
Find a simple trading example below:
Buy Signal
- The first blue histogram bar above zero is a buy signal.
- Open a buy trade and set your initial stop loss below short-term support.
- Close the buy trade for a reward/risk ratio of at least 1.5.
Sell Signal
- The first blue histogram bar below zero is a sell signal.
- Open a sell trade and set your initial stop loss above short-term resistance.
- Close the sell trade for a reward/risk ratio of at least 1.5.
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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 SO.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