5 MA’s Carter Trend Forex Indicator System For MT4
The 5 MA’s Carter Trend Forex indicator consists of 5 simple moving averages with the following periods: 8, 21, 50, 100 and 200.
The 5 MA’s indicator setup is a complete Forex trend trading system built to capture big price movements.
It’s a popular Metatrader 4 trading indicator that works for any time frame (from M1 charts up to monthly).
- Good for capturing the big money trends.
- Works for scalping, day trading and swing trading.
- Easy trading rules.
- Very popular trading system based on multiple moving averages.
Learn below how to open buy and sell trades with the 5 MA’s Carter Trend Forex MT4 indicator.
Indicator Example Chart
Here’s an example (EUR/USD M15 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Attach the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Signals With The 5 MA’s Carter Trend Forex MT4 indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Initiate a buy order when the shorter moving averages are positioned above the longer moving averages (see the chart above for better understanding).
Set stop loss below the previous swing low, or use your own favorite SL method.
Exit long trade when there’s a valid sell trigger signal, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed TP, for instance, +50 pips on the M5 intraday chart.
Sell Trigger: Initiate a sell trade order when the shorter moving averages are positioned below the longer moving averages (see the chart above for better understanding).
Set stop loss above the previous swing high, or use your own favorite SL method.
Exit short trade when there’s a valid buy trigger signal, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed TP, for instance, +100 pips on the H1 intraday chart.
Download This Forex Indicator
Adjustable Parameters & Settings
MA 1, MA 2, MA 3, MA 4, MA 5, color, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
The indicator can be deployed as a standalone trend trading system or strategy.
It can also be combined with various trading oscillators and price action strategies.
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.