Super Signals Indicator
Super Signals Indicator for MT5 is a trend following Forex indicator that provide excellent Buy and Sell signals
Description
The Super Signals Indicator for MetaTrader is a powerful Forex trading tool designed to track market trends. The MT5 signal indicator is effective for detecting trend reversals when they occur.
The Super Signals indicator is a fully automated technical tool integrated with various parameters that follow the market trend. It automatically analyzes the constantly changing price dynamics of the market, compares the data with the previous history and draws a trading signal.
This indicator should be on your chart as a Forex trader because it reduces the need for constant technical analysis. It also gives you more confidence when entering a trade, especially when the signal matches your setup.
In addition, the signal of the indicator is very easy to interpret, so it will not be difficult for beginners to use it. On the other hand, experienced traders will find the Super Signals indicator very useful (especially as a confluence) in their daily trading.
Moreover, the indicator can be used by all classes of traders such as scalpers, day/intraday and swing traders. Super Signal is best used on higher timeframes to generate reliable signals.
How To Trade With Super Signals Indicator
The chart above shows how the Super Signals indicator would look on your MT5 chart. The indicator can be used as an independent tool for trading on the Forex market. But we recommend that you use it in combination with other trading indicators or price action for more profitable trades.
Super Signal draws a BUY/SELL signal as a Blue/Pink circle. The appearance of a PINK circle indicates a possible bearish move, while a BLUE circle indicates a possible bullish move. Basically, you BUY when the blue circle appears and SELL when the pink circle is drawn.
Let’s take a look at using price action with this indicator to create higher probability trade setups. First, wait for the BLUE CIRCLE to appear, then watch for a bullish engulfing candlestick pattern before BUYing the asset.
For a higher probability SELL, also wait for a PINK CIRCLE plus a bearish engulfing candlestick pattern to appear on your chart before going SELL/SHORT. You can refer to the EUR/USD chart above for more clarity regarding the BUY and SELL settings.
Note that the stop loss is discretionary for each trader, but you can set your stop below or above the circles. Take Profit can also be when the opposite circle appears.
Conclusion
The Super Signals indicator for MT5 will help you catch and capitalize on trend reversals as soon as they happen. The indicator is also chart friendly and doesn’t make your chart messy. Finally, it is free to download, so give it a try.