Darvas Box Metatrader 5 Forex Indicator
The Darvas Box is a Metatrader 5 forex indicator that depicts a method of chart analysis developed by Nicolas Darvas, and is quite popular in the United States and Europe.
The technique of the Darvas Box indicator is based on his method of a new trend detection.
A special filter was deployed by Darvas for his work – Darvas Box indicator, allowing him to determine the significance of various price actions.
The indicator consists of a blue upper border and a magenta lower border.
It’s the breakout of the upper or lower borders that constitute a buy or sell signal in that order.
The EUR/JPY Daily chart below displays the Darvas Box Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when price breaks above the blue upper border of the Darvas Box Metatrader 5 forex indicator.
Sell Signal: Go short when price breaks below the magenta lower border of the Darvas Box Metatrader 5 forex indicator.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, price dips below the lower border of the Darvas Box indicator.
Exit sell trade: Close all sell orders if while a bearish trend is running, price breaks above the upper border of the Darvas Box indicator.
Tips: The Darvas Box indicator technique is an ideal system for long-term traders, as such it’s recommended for use on the daily chart.
The methodology used by the Darvas Box indicator is a proven technique that offers accurate trading decisions.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (symmetry, Horizontal shift of the indicator in bars), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the darvasboxes.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)