4 Moving Averages Strength Forex Indicator For Metatrader 4
The 4 Moving Averages strength Forex MT4 indicator is an awesome trend-following MA based technical indicator with easy to follow buy and sell signals.
The indicator represents its signals in the form of a colored histogram below the Metatrader 4 activity chart.
- A green 4 MA histogram represents a buy trend.
- A pink 4 MA histogram represents a sell trend.
The indicator uses the following default moving averages periods: 8, 24, 72, 216
Feel free to experiment with the different periods to suit your preferences.
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4 Moving Averages Strength Indicator Chart
Here’s an example of how the 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 4 Moving Averages Strength Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open buy trade when the 4 MA’s Strength MT4 indicator changes trend histogram color from pink to green.
Place stop loss below the previous swing low price, or use your own stop loss strategy.
Exit the buy trade for a fixed profit target of 2:1 reward:risk or better, or use your own profit taking method.
Sell Trigger: Open sell trade when the 4 MA’s Strength MT4 indicator changes trend histogram color from green to pink.
Place stop loss above the previous swing high price, or use your own stop loss strategy.
Exit the sell trade for a fixed profit target of 2:1 reward:risk or better, or use your own profit taking method.
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MA period 1, MA period 2, MA period 3, MA period 4, method, shift, 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,…)
- 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.