The Monthly Time Bar indicator for Metatrader 5 draws a vertical line on the price chart once every month.
At a glance, you will get an idea of how the overall trend behaved within that month.
The following indicator inputs and parameters can be adjusted to suit your preferences: line style, width, and color.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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Time_Bar_Custom_Monthly.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Monthly Time Bar indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Monthly Time Bar Indicator?
The monthly time bar Forex indicator does not provide any trading signals.
Please combine with other technical indicators or with an existing trading system of your preference.
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Time_Bar_Custom_Monthly.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 Time_Bar_Custom_Monthly.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