The Vibrix Forex indicator for Metatrader 5 specializes in plotting the best possible buy & sell price breakout lines on the price chart.
The blue colored line is called resistance while the red colored line support.
Utilizing the Vibrix indicator for executing buy and sell trades is a simple process:
- A buy signal is generated when the candle closes above the blue colored Vibrix line.
- A sell signal is generated when the candle closes below the red colored Vibrix line.
The following indicator inputs can be modified: number of ZZ points analyzed, retracement size, high/low max.
Make yourself familiar with this technical indicator and test it first on a demo account until you fully understand how it works.
The Vibrix indicator is compatible with all time frames and can be applied to any Forex pair.
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simplezzlevels.mq5 Indicator (MT5)
Chart Example
The following picture shows how the Vibrix Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Vibrix Indicator?
Find a simple trading strategy below:
Buy Signal
- A candle close above the blue colored Vibrix resistance line generates a buy trade.
- Open a buy position and place your stop loss below the most recent swing low zone.
- Exit the buy trade for a risk/reward ratio of 1.5 or higher.
Sell Signal
- A candle close below the red colored Vibrix resistance line creates a sell trade.
- Open a sell position and place your stop loss above the most recent swing high area.
- Exit the sell trade for a risk/reward ratio of 1.5 or higher.
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simplezzlevels.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 simplezzlevels.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