Introduction to the Perfect Trend Line 2 Indicator
The Perfect Trend Line 2 Indicator is a variation of a popular “Perfect Trend Line Indicator”. This version is adding a sort of signals filtering which helps in cleaning up some false signals that take place in the original version. There are two types of signals provided by the Perfect Trend Line indicator. First is the appearance of the blue and red dots – simply blue dots trigger buy trades and red dots indicate sell trades. The second method is color candle switch: when the red candles switch to blue, it is a signal for long trade, alternatively, a switch from blue to red triggers short trade.
The Perfect Trend Line 2 Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Perfect Trend Line 2 indicator in MetaTrader (MT5)?
Download the Perfect Trend Line 2.rar archive at the bottom of this post, unpack it, then copy and paste the Perfect Trend Line 2.ex5 or Perfect Trend Line 2.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.
The Perfect Trend Line 2 indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 and MT5 indicators to download and try.
Download Free Forex MT5 Perfect Trend Line 2 Indicator
To download the Perfect Trend Line 2 Indicator for Metatrader 5 (MT5) for free just click the button below: