Supertrend Indicator
Platform: MT5 Type: Trend Last update: September 22, 2024The Supertrend Indicator for MT5 is a high-demand forex trading tool. It helps to solve major issues, like what is the current trend, when does it start and end. Signals provided by that Supertrend gauge give answers to these questions. Both beginners and advanced forex traders find it powerful and highly accurate.
Profitable trading with the MT5 Supertrend
Trading Rules Explanation
The trading signals of Supertrend are displayed in the form of a red and green cloud. The green cloud indicates that the trend is considered bullish. Conversely, the red cloud suggests a bearish trend takes place. Trades are triggered at the switch of the cloud’s color.
Buy Signal
Follow these steps for a long trade:
- The cloud of the Supertrend Indicator switches from red to green
- Price swings higher from recent low swing
- Buy trade is triggered after the first candle meeting above conditions
- Set stop loss a few pips below the last swing low of the market
- Take profit or exit trade whenever Supertrend Indicator provides opposite signal or use your own method of trade exit
Sell Signal
Follow these steps for a short trade:
- The cloud of the Supertrend Indicator switches from green to red
- Price swings lower from recent high swing
- Sell trade is triggered after the first candle meeting above conditions
- Set stop loss a few pips above the last swing high of the market
- Take profit or exit trade whenever Supertrend Indicator provides opposite signal or use your own method of trade exit
