DeMarker Metatrader 5 Forex Indicator
The Demarker Metatrader 5 forex indicator is a technical tool that is dependent on the comparison of the period’s peak with the previous periods’ maximum.
If the most recent bar maximum is higher, the corresponding difference between the two will be recorded.
On the other hand, if the most recent bar is lower or equal the maximum of the previous period, the recorded value will be zero.
The differences obtained for N periods are then summarized.
In addition, if the dodger blue line of the Demarker Metatrader 5 forex indicator dips below 30 or 0.3, a bullish price reversal is imminent.
While a rise above 70 or 0.7, is indicative of a possible bearish price reversal.
The GBP/USD H1 chart below displays the Demarker Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the dodger blue line of the Demarker Metatrader 5 custom forex indicator breaks above the 0.3 level.
Sell Signal: Go short when the dodger blue line of the Demarker Metatrader 5 custom forex indicator breaks below the 0.7 level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the dodger blue line of the Demarker MT5 forex indicator dips below the 0.7 level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the dodger blue line of the Demarker MT5 forex indicator surges above the 0.3 level.
Tips: In order to be able to catch long term trends, the periods of the Demarker indicator must be adjusted to longer duration.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Period), Colors, 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 demarker.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)