The Band Moving Average MT4 indicator is built around 3 colored moving averages and generates profitable buy and sell signals every day.
The red middle band, the blue upper band and the green lower band.
It creates an easy to trade buy and sell Moving Average channel.
- When the bands are sloping up, it means the trend is going up.
- When the bands are sloping down, it means the trend is going down
Below we will explain how to buy and sell with the Band Moving Average Forex indicator.
This indicator works for scalping, day trading and swing trading.
Feel free to explore the Band Moving Average indicator’s different parameters and settings to create your own personalized indicator setup.
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Band Moving Average Forex Indicator Chart
Here’s an example 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 Band Moving Average Forex Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy trade position when the slope of the bands is moving up (bullish trend) and price touches the middle red band (this is your buy entry price).
Place a protective stop loss below the green support band, or use your own stop loss placement strategy.
Close the buy trade for a reward/risk ratio of 1.5 or higher, or use your own take profit strategy.
Sell Trigger: Open a sell trade position when the slope of the bands is moving down (bearish trend) and price touches the middle red band (this is your sell entry price).
Place a protective stop loss above the blue resistance band, or use your own stop loss placement strategy.
Close the sell trade for a reward/risk ratio of 1.5 or higher, or use your own take profit strategy.
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MA period, MA method, MA shift, percentage, color, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, DeMarker,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI, Parabolic SAR,…)
- 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: moving averages
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.