AtoZ Markets' Dots Indicator is now available for free.
Dots indicator shows the current trend direction by placing dots on the main charts. The blue dots indicate a bullish trend, while the red dots indicate a bearish trend. The indicator does not rely on MetaTrader indicators. However, it uses a call-to-moving average to calculate the price values for each type of input price (Close, Open High, Low, Average, Typical, etc.). The angle of price change is used to calculate the cosine. Trader can modify several input parameters. This indicator is available for both MT4 and MT5 platforms.
How to trade with Dots indicator
It is a good strategy to wait for two dots of the same colour and then enter the trade according to the trend. It sometimes fails. It could be better to use one dot signal and set Filter parameter to something like the currency pair spread x 3.
How do I download and install an indicator
These steps will help you install the indicator onto your MT4/MT5 platform.
- At the bottom of your screen, click on the " download indicator" button.
- Save the file to your hard drive.
- Move the files to the MT5>Indicator directory in the MetaTrader4 software program file directory.
- Start your Metatrader platform.
- Navigate to " Indiators."
- To apply the "Dots" template, select it.
Note that This indicator has been created by a third-party. AtoZ Markets has no copyrights to this trading tool.