How do I install this Indicator on MetaTrader 5?

Download the file, open MetaTrader 5 -> File -> Open Data Folder, copy the file to the correct folder (Experts / Indicators / Scripts / Libraries), then restart the terminal.

How do I activate / load this Indicator?

Drag the Indicator from the Navigator onto your chart and adjust the input parameters as needed.

Is this compatible with MetaTrader 5?

Yes, this Indicator is built specifically for MetaTrader 5.

Is this Indicator safe to use with real money?

All tools are provided for educational and testing purposes. We strongly recommend testing on a demo account first. Trading involves significant risk of loss.

Can I use this Indicator on multiple charts?

Yes, you can apply multiple indicators on the same chart.

Can I customize the settings of this Indicator?

Yes. Right-click on the chart and select properties to open and adjust parameters.

Free BS Living Now Indicator Indicator for MetaTrader 5

MetaTrader 5 indicator

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BS Living Now Indicator

Info

The BS Living Now Indicator is a Indicator for MetaTrader 5 that the bs living now indicator identifies market extremums, resembling the standard fractals indicator. While similar in appearance, they differ in their underlying calculations and filtering methods.

Usage

This tool is typically used for enhancing chart analysis and decision making.

Platform

This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).

Setup

Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.

How to Install and Use BS Living Now Indicator

1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.

2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.

3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.

4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.

Frequently Asked Questions

Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."

Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).

Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.

What this tool does

The BS Living Now indicator identifies market extremums, resembling the standard fractals indicator.

Typical Use Case

This Indicator excels in automated trading and technical analysis on MetaTrader 5.

Compatible Platform & Setup

This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.

Description & Settings

Related: Trading Session Boxes Indicator for MT4/MT5 - another powerful indicator for MetaTrader 5 traders.

The BS Living Now indicator identifies market extremums, resembling the standard fractals indicator. While similar in appearance, they differ in their underlying calculations and filtering methods.

Also recommended: ICT Kill Zones Indicator: Asian, London, New York in New York Time (2026) - similar indicator with strong performance on MetaTrader 5.

The BS Living Now indicator offers customization, allowing traders to adjust the filter and select the number of extremums displayed. In contrast, the standard fractals indicator follows a strict formula with no adjustable parameters.

Indicator Input Parameters:

- The 'iperiod' parameter controls the number of extremums shown. A higher value displays fewer extremums, while a lower value shows more. It's recommended to optimize this setting for specific currency pairs.

Application in Trading:

The indicator serves as a valuable assistant, marking significant levels on the chart. Historical analysis reveals that during trends, each new peak surpasses the previous one. By combining trend analysis with the BS Living Now indicator, traders can identify entry points and add to positions during breakouts of subsequent extremums.

Additionally, implementing a money management strategy, such as opening the first deal with a large lot and subsequent deals with smaller lots, can enhance risk management. This approach increases the likelihood of closing deals in profit, as potential losses from smaller-volume deals are offset by gains from larger-volume deals.

Fig.1. The BS_Living_Now Indicator

You may also like: Spread Monitor Indicator for MetaTrader 5 - excellent alternative for indicator users on MetaTrader 5.

Source Code

#property copyright "robotfx"
#property link "https://robotfx.org"
#property version   "1.00"
#property indicator_chart_window
#property indicator_buffers 4 
#property indicator_plots   4
#property indicator_type1 draw_arrow
#property indicator_color1 clrlime
#property indicator_width1 2
#property indicator_label1  "bs_living_now extrimhi"

.......

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⚠ Limitations & Risk Warning

This tool is provided for educational and testing purposes only.
Past performance does not guarantee future results.
Trading involves substantial risk of loss. Use on a demo account first.
Results may vary depending on market conditions, broker, and settings.
We recommend thorough backtesting and forward testing before using with real funds.