5 bar reversal indicator mq4


Free download 5 bar reversal indicator mq4 for Metatrader 4 and Metatrader 5. This is one of many Forex indicator listed on AtoZ Markets indicators directory which is built for MT4 Forex traders. Like all of our other Forex Indicators this tool is also completely free of charge.

All we ask is, just, after you use it please share your 5 bar reversal indicator review with us. After you download 5 bar reversal indicator mq4 you need to understand the logic behind how this indicator works. Assuming that you have downloaded the file, here we go.

The 5 bar reversal indicator is a counter-trend strategy indicator. The system is looking for 5 or more consecutive bars to define overheating in the market.

Once the system defines overheat, and there is a confirmation, the indicator gives a signal with an arrow up or an arrow down. However, I've tested the system, I believe you can get the best possible results if you combine it with a 20 and 100 SMA on H1 time frame.

Download 5 bar reversal indicator mq4 and then you have the 5 bar reversal indicator mq4, just simply add it to your chart and also add an additional 20 and 100 simple moving averages applied to the median. Your chart should look like the following:

5 bar reversal indicator mq4

Look of the strategy after you download 5 bar reversal indicator mq4 Since 5 bar reversal forex strategy initially was designed to scalp and trade against the trend, combining this strategy with the moving averages, we can reverse the system.

We will look into red arrows too short and yellow arrows to long our instrument. But, to reduce the risk, we will make amendments. We will only be shorting it if the 100-hour moving average is sloping downwards. Meanwhile, for long orders, the system is just the opposite. We will long only if 100 moving average is sloping upward.

Try the 5 bar reversal indicator with AtoZ Markets approved forex brokers:

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AtoZ Markets 5 bar reversal indicator strategy

So here are the complete details of AtoZ 5 bar reversal indicator strategy:

Condition 1: 100 SMA sloping upwards, you get a Red Bearish arrow. You will open a buy order when the price hits 100 SMA on hourly time frame. You will use stop loss below the previous support line. If you are having trouble with support and resistance levels you can use an automated supply and demand indicator too.

Condition 2: 100 SMA sloping upwards, you get a yellow bullish arrow and the price is above the 20 SMA. You will open a buy order when the price hits 20 SMA on hourly time frame. Don't forget to use SL.

Condition 3: 100 SMA sloping upwards, you get a yellow bullish arrow and the price is between the 20 and 100 SMAs. You will open a buy order when the price hits 100 SMA on hourly time frame.

Condition 4: 100 SMA sloping downwards, you get a Red Bearish arrow and the price is below the 20 SMA. You will open a sell order when the price hits 20 SMA on hourly time frame.

Condition 5: 100 SMA sloping downwards, you get a Red Bearish arrow and the price is between the 20 and 100 SMAs. You will open a sell order when the price hits 100 SMA on hourly time frame.

Condition 6: 100 SMA sloping downwards, you get a yellow bullish arrow. You will open a sell order when the price hits 100 SMA on hourly time frame. You will use stop loss above the previous resistance line. Just like condition 1, if you are having trouble with support and resistance levels you can use an automated supply and demand indicator too.

How to download and install an indicator?

In order to install the indicator on your MT4 platform, you need to follow these steps:

  1. Click on the “Download Indicator” button located at the bottom of the post.
  2. Save the file to your computer.
  3. Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
  4. Restart your Metatrader platform.
  5. Navigate to “Indicators.”
  6. And select the "NAME_template" to apply it on the chart.

Note: This indicator was developed by third-party. AtoZ Markets does not carry any copyrights over this trading tool.

Should you use the 5 bar reversal indicator on your own at all?

Before you start trading with the 5 bar reversal indicator, you'll want to read this.

Our in-house trading expert Dr Yury Safronau, PhD in Economic Sciences, gives you daily his best forex, metals, and cryptocurrencies to buy and sell signals right now.

His trading strategies which are based on non-linear dynamic models have achieved more than 65 000 pips of profits since 2015. And right now there are some very strong buy and sell signals across several markets you don't want to miss.

Want to see which ones?

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