How To Setup Indicators On MT5
This article will guide new traders on how to setup indicators on the MT5 application. Some traders use Indicators on the MT5 app for trading and analysis while others use price action.
However, new traders or newbies sometimes find the process of setting up or loading the indicators to the MT5 a difficult task. Loading the indicators in the wrong way can also be confusing especially when the chart does not look like what it should be.
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The following simple steps may guide newbies on how best to install indicators on the main MT5 chart.
How to load 13 Simple Moving Average on the Chart:
The first step is to load the Navigator window, by clicking View and Navigator, as show in the image below;
The next step is to locate the Moving Average indicator, which can be found on the Navigator Indicators list as shown below;
Click on the Moving Average indicator using the Right mouse button. Also click on Attach to Chart using the Left mouse button.
Edit the Moving Average Properties and click OK.
How to load Indicator Window 1 on the Chart:
Apart from Moving Average indicator, some indicators can be easily added to the main chart. Example of these type of indicators are Bollinger Bands, Ichimoku Kinko Hyo, Parabolic Sar and many others.
However, there are other indicators that can not be loaded on the main chart. When these type of indicators are loaded on the chart, they form another window automatically.
Generally, whenever indicators under the Oscillators category are loaded on the chart, they easily form another window below the main chart.
In this example, we will learn how to setup indicator window 1 with the Stochastic Oscillator.
Firstly, identify the stochastic indicator on the Indicator window,
Click on the Stochastic Oscillator indicator using the Right mouse button. Also click on Attach to Chart using the Left mouse button.
Edit the properties of the Stochastic Oscillator indicator and click OK.
How to load 10 Moving Average on Indicator Window 1:
Technically, some experienced traders use the combination of two or more indicators on Indicator Window 1 for the generation of better trade signals.
To load 10 Simple Moving Average on Indicator Window 1, take the following steps;
Left Click on Moving Average indicator, press down on the Left mouse button, drag and drop the Moving Average Indicator on Indicator Window 1.
Change the Moving Average Indicator properties. For Apply to option, select First Indicator Data.
The process is repeated if more indicators are to be loaded on Indicator Window 1.
How to load Indicator Window 2 on the Chart:
Some traders combine signals from two or more indicator windows for effective and better trade signals.
In this example, we will learn how to setup indicator window 2 with the MACD.
Firstly, identify the MACD indicator on the Indicator window,
Click on the MACD indicator using the Right mouse button. Also, click Attach to Chart using the Left mouse button.
Edit the properties of the MACD indicator and click OK.
In conclusion, some trend indicators such as moving averages, can be loaded on Indicator Window 2, while more indicator windows such as Indicator Window 3 and 4 can added to the MT5 chart.
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