The Off Trend MT5 Forex Indicator is a trend-following tool; its signals are presented in the cloud. When the cloud is green, the trend momentum is bullish, and traders should take buy opportunities. Conversely, the trend momentum is bearish when the cloud is pink, and traders should take sell opportunities.
The Off Trend mt5 Forex Indicator fits all timeframes and mt4 currency pairs. It is shown on the main trading mt4 chart. The default settings can be modified from the indicator input tab. Try to experiment with the indicator settings and parameters to fit your preferences.
How to set up the Off Trend MT5 Forex indicator in MT5?
Download the Forex Off Trend.zip archive at the end of this post, unpack it, then copy and paste the Forex Off Trend.ex5 or Off Trend.mq5 forex indicator files into the MQL5 folder of the MetaTrader 5 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL5 > Indicators (paste here).
Now go to the left side of your MT5 terminal. In the Navigator, find the gauge name, right-click it, and select Attach to the chart.
The Forex Off Trend indicator is well worth adding to your trading collection. An easy forex indicator will enhance your chance of success. Nonetheless, remember to have realistic expectations. Like any other technical analysis tool, it cannot provide accurate fx signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your trading system based on it. Don’t forget that we still have more great free forex indicators to try.