Introducing the non-ragdot indicator
Trend direction and trend reversal indications are often some of the most important elements of technical analysis. This allows traders to identify which direction to trade and when to open a trade. The Non-Lag Dot Indicator is a technical analysis tool developed to help traders identify trend directions and trend reversals.
What is a non-ragdot indicator?
The Non-Lag Dots indicator is a trend following technical indicator that shows the direction of the trend by plotting a series of dots on the price chart. These dots track price action movements very closely. The dots plotted by this indicator also change color to indicate trend direction. Green dots indicate the direction or bias of the bullish trend and magenta dots indicate the direction or bias of the bearish trend.
How does the non-ragdot indicator work?
The Non-Lag Dots indicator is an indicator derived from the underlying moving average indicator. Simply track the moving average points and plot dots on these points. It also compares the current point with its previous point. If the current point’s value is higher than the previous point, the indicator plots a green dot. If the current point’s value is lower than the previous point’s value, a magenta dot is plotted.
How to use the Non-Lag Dot Indicator For MT5
This indicator has some optional fields within the indicator settings.
“Applied Price” refers to the price point of the price bar that the indicator uses as price data for its calculations.
“Smoothing method” refers to the moving average calculation method that the indicator uses for the underlying moving average line.
“Indicator Calculation Period” refers to the number of price bars or periods that an indicator uses for its calculations.
“Bar indicator horizontal shift” allows the user to shift the dots back and forth.
This indicator can be used as a trend direction indicator based on the color of the dots. Traders can decide to trade only in the trend direction indicated by dots.
In this context, traders can use this indicator as a trend reversal indicator. Traders use the color change of the dots as a trend reversal signal. However, this method is best done in conjunction with other technical analysis indicators. The example below shows only signals without junctions.
Trading setup
When do you want to enter?
Place a buy order as soon as the Non-Lag Dots turn green. Place a stop loss on the support below the entry candle.
When will you finish?
Close the trade as soon as the Non-Lag Dots turn magenta.
Trading setup
When do you want to enter?
Place a sell order as soon as the Non-Lag Dots turn magenta. Place a stop loss at the resistance above the entry candle.
When will you finish?
Close the trade as soon as the Non-Lag Dots turn green.
Conclusion
The Non-Lag Dots Indicator is a useful trend reversal signal indicator. However, as a standalone signal indicator, it is not always accurate. Therefore, it is best to use this indicator, preferably in conjunction with other technical indicators that are being developed over a longer timeframe. Traders can use this indicator as an entry signal and open a trade on a lower timeframe as a trade entry trigger.
MT5 Indicator – Download Instructions
The Non Lag Dots Indicator For MT5 is the Metatrader 5 (MT5) Indicator and the essence of this technical indicator is to transform the accumulated historical data.
Non-Ragdot Indicator For MT5 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can anticipate further price movements and adjust their strategies accordingly. Click here for MT5 strategies
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How to install Non-Lag Dot Indicator For MT5.mq5 on MetaTrader 5 Chart?
- Download Non-Lag Dot Indicator For MT5.mq5
- Copy Non-Lag Dot Indicator for MT5.mq5 to your Metatrader 5 directory / experts / indicators /
- Start or restart your Metatrader 5 client
- Select the chart and timeframe on which to test the mt5 indicator
- Search for “Custom Indicators” in the navigator, which remains mostly in the Metatrader 5 client
- Right click on Non-Lag Dot Indicator For MT5.mq5
- Attach to chart
- change the settings or[OK]press
- Indicator Non-Lag Dot Indicator for MT5.mq4 is available on the chart
How to remove Non-Lag Dot Indicator For MT5.mq5 from Metatrader 5 Charts?
- Select the chart with the indicator running in the Metatrader 5 client
- right click on the chart
- “Index list”
- Select indicator and delete
Non-Lag Dot Indicator For MT5 (Free Download)
Click below to download.
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