This is an old aeronautical radio term. Radio signal strength and clarity were measured on a scale of 1 to 5. Today the term "Loud and Clear" is preferred to "5 by 5".

In slang use "5 by 5" means things are well, good, or as expected.
by balrog May 16, 2003
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the special from domino's, which walty wants to order every single night
yo you want the 5-5-5 deal?
by walty555 January 31, 2006
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Tip your uber and receive a 5 star rider rating.
My rider rating is a 4.3? You gotta drop the 5 for 5.

She was so nice and polite. Did she 5 for 5? Nope drop the 4.
by the jeremy meagher April 29, 2016
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When a womans vagina has been "used" to such a great extend that it now appears as flabby flesh flaps, similar to roast beef. Hence the 5 for 5 deal at Arby's where you get your fair share of roast beer for a nominal price.
Set the stage as one buddy to another after the successful conquest of a ripe young woman.

Johnny: "So yeah, I hit that last night"
Sam: "How was she, 5 for 5?"
Johnny : "Naw man (pleasant smile) it was like 1 for 99 cent!"

From this dialog Johnny and Sam were able to share information without hurting anyones feelings.
by Joey (Credit to BeanWack) September 19, 2006
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To be in a content state of being. To be fine
Hey how are you? 5 by 5.
by Xander October 29, 2003
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Its an event where you play Call of Duty Modern Warfare 2 from 5 p.m to 5 a.m. with no stops.
Hey dude lets have the 5 to 5 at your house next week.
by CODman December 10, 2009
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Also refers to level of orientation in a neurological/psychiatric exam. Five by five means that you are oriented to (your)name, place (where you are), time, day/date, and year/current President. A way of saying that you're alright, everything's cool.
Dood- are you allright, that was one ugly wreck.

It's cool, I'm five by five.
by anoynymous April 23, 2004
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