Indicators providing simple and clear indication are quite popular on Forex market. The Supertrend trend indicator is one of such tools. It displays its values not in a separate window, but right on the price chart, which is quite convenient.
On an uptrend the indicator line is painted green and placed below the price chart. On a downtrend it is painted red and placed above the price. The indicator can be used in several ways. The simplest is to buy when the Supertrend line is painted green and sell when it is red. In a more advanced variant the evaluation takes place at a senior timeframe, such as H4, and trade is conducted on a smaller – say, M15 towards the dominating trend. Another application option of this indicator is using its lines as resistance and support levels. That is, one should wait until the price gets close to the line and trade rolling back from it.
Originally this indicator has been written in MQL4 and was first published in the Code Base on 19.06.2015.
MT5 Indicator – Download Instructions
Super Trend Metatrader 5 Indicator is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Super Trend Metatrader 5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Super Trend Metatrader 5 Indicator.mq5?
- Download Super Trend Metatrader 5 Indicator.mq5
- Copy Super Trend Metatrader 5 Indicator.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Super Trend Metatrader 5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Super Trend Metatrader 5 Indicator.mq5 is available on your Chart
How to remove Super Trend Metatrader 5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator:
Super Trend Metatrader 5 Indicator