Introduction to the Precision Trend Indicator
The Precision Trend indicator recognizes the trend direction and overlaps default candles to according colors (lime/orange).
The signals provided by that tool are really easy to read – you can use it for standalone scalping, swing trading, and reversals.
It is a NON REPAINT indicator, so you can backtest it and count on the signals without worries.
The indicator is displayed directly on the main trading chart.
It fits all kinds of timeframes and currency pairs.
The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
Simplified trading rules with the Precision Trend Indicator are following:
- Open buy trade at the first candle that changes from orange to lime color. The bullish trend should start now.
- Open sell trade at the first candle that changes from lime to orange color. The bearish trend should start now.
How to set up the Precision Trend indicator in MT5?
Copy and paste the precision-trend-indicator.mq5 or precision-trend-indicator.ex5 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.
The Precision Trend indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Precision Trend Indicator Free Download
To download the Precision Trend Indicator for Metatrader 5 (MT5) for free just click the button below: