Braid Filter Indicator for MetaTrader 5 – Free Download [TradingFinder]

The Braided Filter indicator in the MetaTrader 5 platform is designed to detect price trends and eliminate weak signals.

This trading tool displays market direction changes with high accuracy by combining multiple moving averages smart filters.

The colored histogram along with the blue line identifies the valid areas for entering buy and sell trades.

Braided Filter Instructions

The specifications of the braided filter indicator are shown in the table below:

Braided filter indicator at a glance

In the histogram of the Braided Filter indicator, the blue horizontal line acts as a central filter, defining the border between valid and invalid trading areas.

The position of the colored bar relative to this line plays a decisive role in trading decisions:

• A green bar above the line indicates that buyers are dominant and the price has entered a tradeable bullish zone;
• If the red bar stabilizes below the filter line, continued selling pressure is confirmed, and this situation is considered a suitable entry point for a sell position.

Indicators are in an upward trend

The price chart below shows the Nikkei on the 4-hour time frame. In this oscillator, the gradual growth of the green bars indicates the strengthening of the bullish trend and increasing buying pressure in the market.

When these bars stabilize above the blue filter line, a highly reliable trading area is formed, representing a buy zone.

Indicators are in a downward trend

The price chart below shows the Dogecoin Index (DOGE/USD) on a 5-minute time frame.

An increase in the height of the red histogram bar trading tool indicates increasing sales power and a strengthening of the bearish trend in the market.

If the bar stabilizes below the blue filter line, it forms a valid area for entering a sell position, indicating the continuation of the bearish trend.

Weave filter indicator settings

The image below shows the details of the Braid Filter indicator settings panel in the MetaTrader 5 platform:

• MaPeriod1 : The period of the first moving average
• MaPeriod2: The period of the second moving average
• MaPeriod3 : The period of the third moving average
• AtrPeriod : ATR calculation period
• PipsMinSepPercent : Minimum percentage distance between lines for signal validity
• ModeMA : Moving average
• Alert: Enable sound alert
• EMAIL : Send alert to email
• Notification: Send an alert to your phone
• MESSAGE TIMEOUT : Time between alerts
• MESSAGE SUBJECT : Alert message title

Conclusion

The braided filter oscillator is one of the tools used by technical analysis to identify market trends and strong movements while filtering out weak signals.

This indicator defines suitable entry and exit areas for trading by combining multiple moving averages, colored histograms (green and red) and blue filter lines.