You can now download the Flat Trend MT5 Forex Indicator for free on the AtoZ Markets indicators gallery.
The indicator determines the trend/flat status of the market. This indicator can be used when the market moves sharply and converge when there is flat. The indicator uses this peculiarity. When the market is calm and distance between Bollinger Bands is less than some value, the indicator shows flat (gray histogram by default).
To make the indicator independent from a timeframe, the indicator uses not an absolute distance between bands but the relative parameter “Flat factor”.
Currency Pairs: any
Trading Session: any
How to download and install an indicator?
In order to install the indicator on your MT5 platform, you need to follow these steps:
- Click on “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into MT5>Indicator folder of the MetaTrader5 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “Flat Trend MT5 Forex Indicator” template to apply it on the chart.
Note: This indicator was developed by Jack. AtoZ Markets does not carry any copyrights over this trading tool.