The 3 MTF moving average Forex indicator with full alerts generates awesome buy/sell signals based on the relative position of 3 moving averages.
This is a very complete moving average crossover system indicator with a lot of customizable options.
One of the most important option is MTF (multi time frame).
By default, MTF is set to the current time frame, however, you can set it to any time frame that you want to visualize on the open chart.
For instance, you can load the 3 MTF moving average indicator on the 5-minute chart and set the MTF function to the hourly chart.
Basically, now you will be receiving signals that normally occur on the hourly chart on the open 5-minute chart.
Some traders really like this function and trade very well with it.
Another interesting option includes the moving average mode.
With this option, you can choose from simple, exponential, smoothed and linear weighted moving averages.
For a more detailed explanation of how moving average crossover indicators work, click here.
This 3 MA’s Forex indicator version uses the following default values for its moving averages:
- Fast moving average: period 10
- Medium moving average: period 20
- Slower moving average: period: 40
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3 MTF Moving Average Indicator Chart
Here’s an example of how the 3 MTF Moving Average With Full Alerts indicator should look like when loaded onto the Metatrader 4 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With 3 MTF Moving Average With Full Alerts Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Buy the currency pair when the light blue indicator arrow appears on the chart. It means all moving averages are perfectly aligned to open a buy trade.
A stop loss can be placed slightly below the previous swing low support, or use your own stop loss strategy.
Exit the buy trade when an opposite sell signal appears on the trading chart (close and reverse position), or exit the buy trade at a fixed profit target of 1:1 reward:risk or better.
Sell Trigger: Sell the currency pair when the red indicator arrow appears on the chart. It means all moving averages are perfectly aligned to open a sell trade.
A stop loss can be placed slightly above the previous swing high resistance, or use your own stop loss strategy.
Exit the sell trade when an opposite buy signal appears on the trading chart (close and reverse position), or exit the sell trade at a fixed profit target of 1:1 reward:risk or better.
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Time frame, faster MA, medium MA, slower MA, mode, alerts (message, sound, mobile, email), colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, RSI,…)
- Trend indicators (Moving Average, 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, H4, D1, W1
Indicator Type: trend
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.