Technical Indicators for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
Description
Very precise patterns to detect: entry signals as well as breakout, support and resistance reversal patterns. It points out zones in which, with a high probability, institutional orders with the potential to change the price’s direction and keep moving towards it, have been placed.
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KEY LINKS: Indicator Manual - All Products
How is this indicator useful?
- It will allow you to trade on the order’s direction, once its direction has been identified.
- It will allow you to trade retracement or breakout patterns, everytime they occur in a given zone.
- You’ll be able to identify potential resistance or support levels. Be mindful that you can use these levels as take profit zones.
- You’ll be able to combine this indicator with trend and market maker patterns. In order to identify these patterns.
Components
- Horizontal green lines: These represent bullish order blocks.
- Horizontal red lines: These represent bearish order blocks.
- Green, red Arrows: Bullish or Bearish signal of recent OB Formed
- Yellow Arrows: Bullish or Bearish signal of Breakout of OB.
Note 1: This indicator should only be considered as a part of any trading strategy. You should complement this with other filters (e.g trend, volatility, time, etc).
Note 2: This indicator is meant to serve as a guide to apply in your intraday trading. Overtime, this will help you understand the baseline for a solid and consistent trading strategy.
About Author:
Carlos Forero, Member of Clever Trading Club, private organization with the purpose of design clever solutions to generate constant profits with adapted risk.
