![]() Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client.Select Chart and Timeframe where you want to test your mt5 indicator.Start or restart your Metatrader 5 Client.Copy Moving Averages Color Indicator for MT5.mq5 to your Metatrader 5 Directory / experts / indicators /.Download Moving Averages Color Indicator for MT5.mq5.How to install Moving Averages Color Indicator for MT5.mq5 to your MetaTrader 5 Chart? Free +50% Bonus To Start Trading Instantly.Additional Exclusive Bonuses Throughout The YearĬlick Here for Step-By-Step XM Broker Account Opening Guide #2 – Pocket Option.Free $50 To Start Trading Instantly! (Withdrawable Profit).Click here for MT5 Strategies Recommended Forex MetaTrader 5 Trading Platforms #1 – XM Market Moving Averages Color Indicator for MT5 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.īased on this information, traders can assume further price movement and adjust their strategy accordingly. Moving Averages Color Indicator for MT5 is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data. This indicator is best used a trend strength indicator since its color changes allow traders to identify how strong a trend is. Set the stop loss on the resistance above the entry candle.Ĭlose the trade as soon as price action shows signs of a bullish reversal and the color of the moving average line starts to change. Open a sell order as soon as price action shows signs of a strong bearish trend continuation. The Moving Averages Color line should have a color gradient which is close to dark pink. Set the stop loss on the support below the entry candle.Ĭlose the trade as soon as price action shows signs of a bearish reversal and the color of the moving average line starts to change. Open a buy order as soon as price action shows signs of a strong bullish trend continuation. The Moving Averages Color line should have a color gradient which is close to lime. It can also be used as a trend strength indicator based on the color of the line. It can be used as a trend direction filter, or as a dynamic support or resistance level. The Moving Averages Color indicator can be used as a regular moving average line. The “Angle Threshold for Color Steps” pertains to the sensitivity of the incremental change in color. It also allows traders to change the colors used on the moving average line on the “Fast Up Color” and “Fast Down Color”. “Moving Average Method” pertains to the type of moving average line used. “Applied Price” pertains to the price point used from a bar when computing for the moving average. “Moving Average Period (length)” allows traders to change the number of periods used on the moving average line. The Moving Averages Color has a section within its settings which is similar to the regular Moving Average indicator settings. How to use the Moving Averages Color Indicator for MT5 To do this, it uses an angle threshold to trigger the incremental change of the color of the line. It also plots a color closer to a dark pink gradient whenever the moving average line slopes down steeply. It plots a color gradient closer to lime whenever the moving average line slopes up steeply. It then modifies the color of the line based on the slope of the moving average line. This moving average line can be modified just as with the built-in Moving Average indicator on the MT5 platform. The Moving Averages Color indicator plots a basic moving average line. How the Moving Averages Color Indicator Works? Instead, it changes color in gradients depending on the strength of the trend. However, unlike most moving average lines that change color, it does not change color in a binary manner. It plots a lime line indicating a bullish trend, and a dark pink line indicating a bearish trend. This indicator plots a moving average line which changes color depending on the direction of the trend. The Moving Averages Color indicator is a trend following technical indicator which is a customized moving average line. What is the Moving Averages Color Indicator? The Moving Averages Color indicator is a simple technical indicator which allows traders to observe how strong a trend is. However, another important factor when trading with the trend is trend strength. Most traders are often concerned with trend direction. Introduction to the Moving Averages Color Indicator
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