Volty Channel Stop Indicator
The Volty Channel Stop indicator for MT5 detects price trend reversal zones.
Description
The Volty Channel Stop indicator for MetaTrader 5 is a channel indicator that follows the trend of an instrument and displays potential reversal zones. It uses the average true range (ATR) and moving average, which tracks the flow of the trend and reversal zones in the Forex market.
The indicator’s moving average identifies and follows the trend, showing the direction of the market, while the ATR identifies potential reversal zones for possible buy/sell entry. However, it should not be used as a stand-alone indicator for making trading decisions.
Therefore, for greater effectiveness, it is recommended to use it as a merger with price/other technical indicators.
How to Trade with the Volty Channel Stop Indicator for MT5
The image above shows the action of the indicator for MT5 on the EURUSD currency pair.
The red and blue lines are the moving average lines that follow the trend, and the blue and red dots are the buy/sell signals generated by the ATR indicator. The indicator signals a buy entry zone when it draws a blue dot, and a red dot signals a sell zone.
Conclusion
The Volty Channel Stop Indicator for MT5 is an ATR based system that provides buying and selling capabilities in the Forex market. Finally, the indicator is free to download.