2MA Crossover With Price Forex Signals Indicator For MT4
The 2MA Crossover With Price is a Metatrader 4 Forex signals indicator that belongs to the category of popular trend indicators.
It’s widely used in technical analysis of different financial markets (Forex, Stocks, Futures,..).
The indicator is the perfect choice for any type of trader, considering the fact that it forms dodger blue and magenta colored arrows on the chart window upon being added.
Once the indicator is added on your Metatrader 4 platform, it shows up either as an upward pointing dodger blue arrow or a downward magenta pointing arrow.
The indicator is primarily made up of two moving averages, and at every instance these lines intersect or cross, an arrow is formed.
Here’s how you can buy and sell from the 2MA Crossover With Price forex indicator:
- Dodger blue upward pointing arrow pops up fairly below the candlesticks on the activity window for a buy trend.
- Magenta downward pointing arrow pop up slightly above the price bars on the chart window for a sell trend.
Tip: In most cases, merging a Stochastic Oscillator with the 2MA Crossover With Price indicator counterpart creates a vastly profitable system for medium and short term trading.
In this case:
- A buy trend takes place when the Stochastic Oscillator lines breaks above the 50 horizontal level, while the 2MA Crossover With Price indicator displays its dodger blue upward pointing arrow.
- A sell trend takes place when the Stochastic Oscillator lines breaks below the 50 horizontal level, while the 2MA Crossover With Price indicator displays its magenta downward pointing arrow.
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2MA Crossover With Price Forex Signals Indicator Chart
Below is an example of how the indicator should appear when added onto the Metatrader 4 chart.
Traders are free to adapt this indicator on a cross section of currency pairs and time frames of their preference.
Finding Buy and Sell Triggers With 2MA Crossover With Price Forex Signals Indicator
Below is an example of how to buy and sell forex pairs with this technical indicator:
Buy Trigger: Open buy trade order when the indicator pops up a dodger blue upward pointing arrow on the activity window.
Place stop loss below most recent medium/short term support level, or use your own stop loss placement method.
Close the buy trade for a reward to risk 1.7:1 ratio or better, or use your own preferred take profit method.
Alternatively, close the buy trade for a fixed take profit target of 70 pips on the 1-Hour chart, but maintain a smaller profit outlook on the lower time frames, for example, 25 pips on the 5-minute scalper chart.
Sell Trigger: Open buy trade order when the indicator pops up a magenta downward pointing arrow on the activity window.
Place stop loss above most recent medium/short term resistant level, or use your own stop loss placement method.
Close the sell trade for a reward to risk 1.7:1 ratio or better, or use your own preferred take profit method.
Alternatively, close the sell trade for a fixed take profit target of 70 pips on the 1-Hour chart, but you should maintain a smaller profit outlook on lower time frames, for example, 30 pips on the 15-minute day trader chart.
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MA1, MA1 mode, MA1 price, MA2 mode, MA2 price, Arrow type, Alert On.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (Stochastic, RSI, Moving Average of Oscillator…)
- Trend indicators (Ichimoku Kinko Hyo, Bollinger Bands, ADMI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1
Indicator Type: trend
Copy and paste the indicator in the MT4 indicators data folder (click on ‘File > Open Data Folder’).
Right click within the MT4 terminal Navigator window to refresh or restart the terminal and add the indicator to any chart.