Trigger Line Indicator
Trigger Line indicator – is a momentum reversal indicator for MT5. Forex trend following indicator. The best MA crossover indicator for MT5.
The Trigger Line Indicator for MetaTrader is a simple technical tool used to detect trade entries/exits in a trending market. This trend-based indicator is integrated with the R-period and Least Squares Moving Average (LSMA), the element responsible for determining price diversity.
The indicator gives trading signals when the Trigger Line is crossed and their color changes. The color change is used to determine the current market trend, which also serves as an entry/exit.
The indicator is very sensitive to price changes and checks for potential short-term reversal zones for a possible trade entry. This will help you make an informed trading decision about when to open a trade or cut your losses.
This indicator is suitable for various trading methods such as scalping and day/intraday trading. The indicator works well on higher timeframes with reliable entry and exit signals. However, scalpers can equally use it to catch small moves on lower timeframes.
In addition, both beginners and experienced traders will find this indicator handy in their daily trading activities.
Trigger Line Indicator BUY/SELL Signals
The CAD/CHF chart image above shows how the Trigger Line indicator would look on your chart. The indicator gives a BUY/SELL signal when certain technical conditions are met, which can lead to a trend reversal or continuation.
BUY/SELL signals are represented by crosses and a change in the color of the Trigger Line. However, not all signals can be traded due to some underlying factors in the market. This is why no indicator is 100% effective.
Hence, the Trigger Line indicator is recommended to be used along with other trading indicators or price action in order to exploit the potential. Moreover, the indicator signals are more reliable in a trending market. However, it can also be used to detect trend reversals.
For a valid BUY signal: wait for the trigger line to cross and change color to pink and blue. Once these conditions are met, you can enter a LONG BUY after any bullish candle patterns are found. The example above shows an entry after a bullish engulfing candlestick pattern.
The same method applies to a SELL signal. Wait for the trigger line to cross and change color to yellow and red, which confirms the bearish sentiment. You can go SHORT/SELL after a bearish candlestick pattern has formed.
The take profit should ideally be after the trigger line changes to opposite colors, which is usually preceded by an initial crossover between the lines. On the other hand, the stop loss depends solely on the discretion of the trader.
Conclusion
The Trigger Line Indicator for MT5 is indeed a trading tool that you don’t want to leave on your chart. This makes trading easier and can greatly increase your winnings, especially when used as a merge. Finally, it is available for free download.
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