Buy Sell 5code Indicator

Buy Sell 5code Indicator

The Buysell5code Indicator for MetaTrader is a powerful forex trading tool that uses a triple confirmatory system to identify a trend reversal.

The Buy Sell 5code indicator for MetaTrader is a trend-following forex indicator that uses a triple confirmatory system to identify a potential trend reversal. It was built with red and blue signal arrows that appear both on the chart and in a separate window. Besides, the indicator also comes with a signal line that reflects the prevailing trend bias of the market. The line alternates between yellow and blue colors.

A potential bullish or bearish trend is depicted when the indicator’s signal line turns blue or yellow, respectively. This is also followed by two blue/red arrows; one on the main trading chart and the second on a separate window.

Furthermore, the indicator also shows the recommended Take Profit and Stop Loss (in pips) per trade. You may adjust the parameters to suit your style of trading.

The Buy Sell 5code indicator is recommended for novice, intermediate, and advanced forex traders. It is also suitable for scalpers, day/intraday, and swing traders.

How To Trade With Buy Sell 5code Indicator

The above image depicts how the indicator would look on your MT4 indicator. It shows the indicator’s trend analysis of the EURUSD pair on an H4 timeframe.

The indicator painted double red arrows, and the signal line also changed to yellow, which implies a possible bearish move. To open a sell/short trade, you would need further confirmation by price action, like the bearish engulfing candlestick pattern as captured in the image above.

So, in essence, you need to wait for the indicator to signal the beginning of a potential bearish trend, for instance. You may then open a sell/short position in line with price action (bearish engulfing, inverted hammer, etc.).

Conclusion
The Buy Sell 5code indicator for MT4 is highly recommended to be used with price action/other technical indicators for better trade efficiency. What’s more, it also shows the recommended Take Profit and Stop Loss per trade. Finally, it is free to download.