Toolkit: MT5, indicators and your broker

MetaTrader 5 (MT5) is the trading platform most forex traders meet sooner or later. Install it from the official source only, open a demo account before anything else, and learn where Market Watch, charts, timeframes and the order window are.

Pipstone's free indicators are .ex5 files for MetaTrader 5. Put one in the data folder, refresh the Navigator, attach it to a chart, change its inputs one at a time and save the layout as a template. Then check it works.

Three indicators that draw where price turned, which levels it took and when the sessions run. For each one, what it draws, how to read it and what it does not tell you. The SMC Setup Strength grade is a probability read on the structure, never a signal.

One indicator that answers the first question on any chart, what kind of market this is. Trend Regime colours the trend (up, down or range) and grades pullback resumptions. It does not say buy or sell.

A forex pair is two currencies. The Currency Strength Matrix ranks the eight majors right now, so you can see which currencies have been moving. It describes how currencies have moved against each other, not which pair to trade.