Averages Heatmap Indicator MT5

MT5 Trend TradingFree Download

The Averages Heatmap Indicator MT5 (MetaTrader 5) combines Exponential Moving Averages to provide potent market insights. It serves as a valuable tool for trade entry and exit, offering essential support for determining stop loss and take profit levels. What’s more, this trading tool is renowned for its dependability and efficiency. This forex MT5 indicator is available for free download.

Averages Heatmap Indicator MT5: Introduction

MT5 Indicator Overview

The download link of the Averages Heatmap MT5 indicator is placed at the bottom of this post – once you’re done, your Metatrader 5 trading chart should look similar to the example below.

Averages Heatmap Indicator MT5 Example Chart

Displaying a maximum of 256 average slopes with dual-color lines for each slope, this version encompasses the following supported average types:

Simple Moving Average (SMA)
Exponential Moving Average (EMA)
Smoothed Moving Average (SMMA)
Linear Weighted Moving Average (LWMA)

Standard features such as line styles, colors, and weights are also included, along with the usual array of 22 price types. This indicator shares similarities with the “Averages Rainbow,” differing in that it exclusively generates a two-state heatmap representing the slope of the average. In the provided illustration, the rainbow appears on the primary chart, while the heatmap is situated within its respective sub-window.

Trading Suggestions

Deciphering the trading signals offered by the Averages Heatmap indicator is straightforward and adheres to the following scheme:

Blue signifies an upward slope.
Brown indicates a downward slope.

MT5 Indicators: Download and Installation Instructions

Download the Averages Heatmap Indicator MT5.rar archive at the bottom of this post, unpack it, then copy and paste the averages-heatmap.ex5 or averages-heatmap.mq5 indicator files into the MQL5 folder of the Metatrader 5 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL5 > Indicators (paste here).

Now go to the left side of your MT5 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.