5 Min Scalping With M5 Trader Indicator
5 Min Scalping With M5 Trader Indicator
5 Min Scalping With M5 Trader is a very simple forex trading indicator. 5 Min Scalping With M5 Trader is a trend following forex trading indicator. But it might be risky to use this indicator alone to make your trading decisions. You can use other indicators like MACD, RSI, stochastic, etc. to verify the trading signals generated by the 5 Min Scalping with M5 Trader indicator. The 5 Min Scalping with M5 Trader is preferred by beginner as well as expert traders to make money in the market.
When you install 5 Min Scalping with M5 Trader in your trading platform, your chart should look like this:
- 5 Min Scalping with M5 Trader
5 Min Scalping with M5 Trader is a customized moving average which is blue and red as per the direction of the market. When the market is up, this indicator is blue and when the market is down this indicator is red. It is very important to understand the concept of trend when you trade with this forex trading indicator. You should never trade against the trend when you trade with this indicator. Suppose, you are looking at hourly timeframe, market should be up trending on H1 time frame at least.
Buying Conditions Using 5 Min Scalping with M5 Trader.
Market should be up trending.
Market should be bouncing from the recent swing low.
5 Min Scalping with M5 Trader indicator should be blue.
Place your long position as soon as above conditions are met.
Place your stop loss just below the recent swing low.
Take your profit when the 5 Min Scalping with M5 Trader turns red.
Selling Conditions Using 5 Min Scalping with M5 Trader.
- Market should be down trending.
- Market should be falling from the recent swing high.
- 5 Min Scalping with M5 Trader indicator should be red.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the 5 Min Scalping with M5 Trader turns blue.
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