Sidus Indicator
BUY/SELL Forex market signals from the best indicator Sidus for MT5. Find out the trend direction with arrows.
Description
The Sidus Indicator is a simple MT5 indicator that plots arrows and Moving Averages to tell the direction of the trend. There are two main components of the indicator; Moving Averages and arrows. The indicator plots four MAs ranging from shorter periods to longer ones. Although the indicator doesn’t specify MA periods in its settings, they appear on the chart.
The next aspect of the Sidus Indicator is the arrows. There are two different arrows; teal and violet. The teal arrow suggests an uptrend, while the violet arrow mentions a downtrend. The arrows and the MA act as signal confirmations.
The Sidus Indicator works on every time timeframe; however, as the MAs are prone to false signals and rely on historical data, it’s better to look at the trend on a longer timeframe. If you are a scalper or a short-term trader, you can look for the overall trend on a longer timeframe, and then come to a shorter timeframe to enter the trade.
How to use the Sidus Indicator for MT5?
The EURUSD H1 chart above shows the BUY/SELL signals of the Sidus indicator. There are two ways to find BUY/SELL signals using the indicator. The easiest approach is to look for teal or violet arrows. You can go short when the violet arrows appear, and when the teal arrow appears, you can go long.
However, this approach can be misleading as these arrows often appear on the chart and are not a good indicator of BUY/SELL signals. In addition, these arrows can be recoloviolet, that is, the arrow can appear when the candle is formed, but can disappear when its formation is completed. The following method of using the Sidus indicator combines moving averages and arrows. When the price falls below all moving averages and a violet arrow appears, you can open a short position. On the other hand, when the price rises above the moving averages and a teal arrow appears, you can go long.
It is important to wait for a trend to form and then enter as the arrows may repaint and the price may jump above or below the moving averages. While adding moving averages with arrows acts as confirmation, you can add other forms of technical analysis such as looking for candlestick/chart patterns or using other indicators such as the RSI or MACD for further confirmation.
Conclusion
The Sidus indicator for MT5 uses arrows and moving averages to determine the strength of a trend. Arrows and moving averages act as signal confirmations, making it easier to enter and exit a trade. If you want to download the Sidus indicator, you can do it for free from our website.