The Absolute Strength V2 Forex indicator for Metatrader 5 is a technical tool that works great for both trade entries and exits.
The indicator appears in a bottom chart and displays the absolute strength in the form of two colored lines.
A buy or sell signal is generated when both colored lines cross each other.
For short-term trading, deploy the indicator during the most volatile trading sessions.
The Absolute Strength V2 indicator can be easily combined with other trading indicators and Forex systems.
- Displays absolute strength
- 100% No-repaint indicator
- Buy/Sell trading indicator
- Newbie friendly indicator
- Programmed for Metatrader 5
The chart below shows the Absolute Strength V2 Forex indicator attached to the EUR/USD 5-minute chart.
The Absolute Strength V2 indicator for MT5 can be used in multiple ways, find a basic trading example below:
- Open a buy transaction when the blue colored line crosses the orange colored line bottom up.
- Place your stop loss below the previous swing low price.
- Exit the buy trade for a fixed take profit target or when an opposite (sell) trading signal occurs on the chart.
- Open a sell transaction when the orange colored line crosses the blue colored line bottom up.
- Place your stop loss above the previous swing high price.
- Exit the sell trade for a fixed take profit target or when an opposite (buy) trading signal occurs on the chart.
How to install the Absolute Strength V2 indicator in Metatrader 5?
- Copy the absolutestrength_v2 indicator in the MT5 indicator folder
- Restart the trading platform
- Select and attach the indicator to any chart of your preference
How to remove the indicator from the chart?
- Click with your right mouse button in the chart
- Select the indicator list from the dropdown menu
- Remove the indicator from the list
- Press close
Make yourself familiar with this trading indicator and fully understand how it works before using it in a real account.