Snake In Borders Indicator

Snake In Borders Indicator

The Snake In Borders indicator for MT5 displays the forex trend channel, allowing traders to track the trend during continuation and identify forex trend reversals.

The Snake In Borders Indicator for MT5 provides a forex trend channel indicating bullish and bearish market conditions. Additionally, it provides trend reversal signals and helps traders anticipate price reversals.

The indicator is easy to use and is well suited for both new and experienced Forex traders. It works great on all intraday price charts as well as daily, weekly and monthly charts.

Thus, traders can use it for scalping, short-term and long-term Forex trading strategies.

Snake In Borders Indicator For MT5 Trading Signals

The indicator displays a lavender channel line and a purple signal line. In a trending market, the purple signal line touches the outer bands. So, the best trading strategy is to enter the market as soon as the lavender indicator line touches the upper or lower line of the channel.

In a bull market, the lavender signal line moves up to the upper channel line and remains there. Once the signal line touches the upper channel, traders can open a buy position with a stop loss below the lower channel line. Traders can take profits if the lavender signal line moves away from the upper band, or wait until it touches the lower band.

In a bearish trend, the lavender signal line moves down and touches the lower channel line.

To achieve the best trading results, traders should set the HardCalc indicator setting to True when this indicator is used in conjunction with indicators such as Moving Average or Awesome Oscillator. However, when used in conjunction with indicators such as Zigzag or Channels, the parameter should be set to False.

Conclusion
Thus, the Snake In Borders indicator for MT5 is an effective Forex technical analysis indicator for trend traders.