The AMA Forex indicator for Metatrader 5 is composed of a single line and reveals the overall trend direction for any time frame.
The indicator gets drawn as a red thick colored line in the main chart window.
Price action above the AMA line is bullish while bearish below.
The indicator is solid, 100% non-repaint, and will not slow down your trading platform.
- Reveals overall trend direction
- Works for any currency pair
- Works for any time frame
- Programmed for Metatrader 5
The image below shows the AMA Forex indicator attached to the EUR/USD 15-minute trading chart.
The AMA indicator for MT5 can be used in multiple ways, find a basic trading example below:
- Open a buy trade when the candle crosses the red AMA line bottom-up.
- Place your stop loss 2-3 pips below the most recent swing low.
- Exit the buy trade for a fixed profit target or wait for a sell signal.
- Open a sell trade when the candle crosses the red AMA line top-down.
- Place your stop loss 2-3 pips above the most recent swing high.
- Exit the sell trade for a fixed profit target or wait for a buy signal.
How to install the AMA Forex indicator in Metatrader 5?
- Copy the AMA indicator file 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 drop down 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.