Sidus Indicator
MT5Also Available for MT4The Sidus Indicator for MT5 is a Forex trading tool designed to identify buy/sell entry points according to the Sidus trading method.
Description
The Sidus Indicator for MetaTrader 5 is a Forex trading tool designed to identify buy/sell entry points according to the Sidus trading method. For reference, the Sidus trading method is a trading system that generates buy/sell entry opportunities when two different moving averages cross an up/down trend channel.
So basically what the indicator does behind the scenes is analyze the market according to the Sidus trading method and then draw a signal yellow/red arrow once the setup conditions are met.
The indicator’s lime and red arrows show that the moving averages have crossed above/below the trend channel, which also implies buy/sell signals respectively. This makes it a charting-friendly technical tool suitable for both beginner/intermediate and advanced traders.
However, the indicator is recommended to be used in conjunction with price action/or other technical trading tools for best results. This helps as a confluence to filter out any false signals that may be generated, especially in a range market.
How to trade with the Sidus indicator
The image above shows the action of the indicator on the EURUSD currency pair on the H1 timeframe.
The image shows that several buy/sell signals were generated, but the price action (bullish/bearish engulfing candlestick pattern) was used as a confluence to determine the possible trend direction. In other words, the buy/sell entries were valid because they were in sync with the price action.
Conclusion
The Sidus Indicator for MT5 is recommended for scalpers, day/intraday and swing traders to find trading opportunities according to the Sidus trading method. Moreover, it can be downloaded for free.
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