Forex MTN Indicator for MetaTrader 5 – Free – [TradingFinder]

The Forex MTN Indicator is a momentum-based tool developed for the MetaTrader 5 platform.

By technical analysis the intensity of price movements, this indicator identifies overbought and oversold zones in financial markets, including forex, cryptocurrencies, and commodities.

Forex MTN Indicator Specifications Table

The features and general information about the Forex MTN Indicator are comprehensively presented in the table below:

Indicator at a Glance

In the Forex MTN Indicator, when momentum approaches overbought or oversold zones, the tool generates entry and exit signals using colored dots:

• +24 level: Indicates entry into the overbought zone, shown with a red dot
• −24 level: Indicates entry into the oversold zone, shown with a blue dot

Uptrend Conditions

The chart below shows the USD/CHF currency pair in the 5-minute timeframe. When the price is in an uptrend, and the histogram bars enter the oversold zone (below −24), it indicates weakening bearish momentum.

If blue dots appear simultaneously, this can be considered a buy signal.

Downtrend Conditions

The chart below displays XAUUSD (Gold) in the 30-minute timeframe. When the price is in a downtrend, and the histogram bars enter the overbought zone, signs of weakening in the corrective move appear.

If a red dot appears above the bars simultaneously, this can signal a suitable condition for a sell trade.

Conclusion

The Forex MTN Indicator (Forex MTN) is a momentum-based technical analysis tool that provides trading signals by analyzing price movement to identify overbought and oversold zones.

This indicator has no input parameters and operates automatically, requiring no initial settings.