The ATR Trend Envelopes Forex Signal indicator for Metatrader 5 is a popular buy/sell trading tool based on ATR and envelopes.
The indicator works the best in trending markets and can generate huge profits.
The trading rules are simple and suits both beginners and seasoned currency traders.
A blue colored signal line is bullish while a red colored line bearish.
The indicator is solid, 100% non-repaint, and will not slow down your trading platform.
- Popular buy/sell indicator
- Non-repaint Forex signals
- Works for any currency pair
- Works for any time frame
- Programmed for Metatrader 5
The image below shows the ATR Trend Envelopes Forex Signal indicator applied to the EUR/USD 15-minute trading chart.
The ATR Trend Envelopes Signal indicator for MT5 can be used in multiple ways, find a basic trading example below:
- A buy signal occurs when the blue signal line appears on the chart. Open a buy transaction.
- Place your stop loss a few pips below the blue line.
- Exit the buy trade for a fixed profit target or wait for a sell signal.
- A sell signal occurs when the red signal line appears on the chart. Open a sell transaction.
- Place your stop loss a few pips above the red line.
- Exit the sell trade for a fixed profit target or wait for a buy signal.
How to install the ATR Trend Envelopes Forex Signal indicator on Metatrader 5?
- Open the trading platform and click on “File” (top menu)
- Navigate to the “open data folder”
- Navigate to the MQL5 indicators folder
- Copy the ATR Trend envelopes indicator file in this folder
- Close and restart the MT5 trading platform
- You will find the indicator in the custom indicators list
- Select it and attach to any chart of your preference
How to remove the indicator from the chart?
- Click with the right mouse button in the chart
- Select the indicator list from the drop down menu
- Delete the indicator from the list
- Press close to save the new chart configuration
Make yourself familiar with this trading indicator and fully understand how it works before using it in a real account.