Slingshot Indicator MT5
Platform: MT5 Type: Momentum Last update: February 28, 2026The Slingshot Indicator for MT5 is responsible for diplaying the colored price momentum histogram and signal line under the candlestick chart.
Example chart:
How to use the Slingshot Indicator for MT5?
The Slingshot indicator uses different colors to suggests probable direction of the price movements. Traders should understand them as follows:
- Green – bullish movement
- Red – bearish movement
- Light green – rolling back upwards or starting bullish movement
- Orange – rolling back downwards or bearish movement
- Gray – suggests neutral market
Indicator settings
In the settings tab, there are four customizable inputs:
- Period – calculation period (default: 14)
- Applied price – calculation price (default: close price)
- Signal period – signal line period (default: 14)
- Signal price – signal line calculation price (default: low price)
