The Strength Index Signal v1.0 Forex indicator for Metatrader 5 is an exceptional trading tool that generates profitable buy and sell trend reversal signals.
It combines strength accumulation and the ATR indicator to provide top-notch signals for trend reversal trading.
This indicator offers user-friendly buy and sell signals, making it effortless to identify trend reversal trades.
The following guidelines will help you spot these trades:
- A blue colored arrow signifies a bullish trend reversal.
- A red colored arrow indicates a bearish trend reversal.
You have the flexibility to customize various indicator inputs and parameters, such as the strength accumulation period, delta, ATR period, ATR delta, and more.
For currency traders focusing on the 1-minute and 5-minute charts, here’s a valuable tip:
Enhance your trading results by utilizing the Strength Index Signal v1.0 indicator during the London and New York trading sessions.
Trade the lower spread currency pairs.
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Strength Index Signal v1.0.mq5 Indicator (MT5)
Chart Example
The following image shows what the Strength Index Signal v1.0 indicator looks like when applied to the Metatrader 5 charting platform.
How To Buy And Sell Currency Pairs With The Strength Index Signal v1.0 Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given when the blue signal arrow is printed on the chart.
- Open a buy market order and place your protective stop below support.
- Exit the buy trade when the red colored sell arrow appears on the chart.
- Alternatively: exit the buy trade for a fixed profit target of your preference.
Sell Signal
- A sell signal is given when the red signal arrow is printed on the chart.
- Open a sell market order and place your protective stop above resistance.
- Exit the sell trade when the blue colored buy arrow appears on the chart.
- Alternatively: exit the sell trade for a fixed profit target of your preference.
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Strength Index Signal v1.0.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 Strength Index Signal v1.0.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 on 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