The Fibonacci Moving Average Forex signals indicator for Metatrader 4 is based on both Fibonacci levels and 8 moving averages.
The indicator appears in the main chart window as a simple to use signals dashboard and the 8 moving averages.
The mini dashboard displays the buy/sell trends for 8 different time frames and it updates the signals at the close of each candlestick.
A green up arrow represents a buy trend while a red down arrow represents a sell trend.
- Based on Fibonacci levels + 6 MA’s
- Reveals the buy/sell trend
- Works for any time frame
- Works for any trading instrument
- Does not repaint
- Developed for Metatrader 4
Indicator Chart Example
The picture below shows the Fibonacci Moving Average Forex signals indicator attached to the EUR/JPY 4-hour chart.
How to use this Forex indicator?
This Forex indicator can be used in multiple ways, find an example below:
- A strong buy signal is given when at least 6 of the arrows are in the green buy mode.
- Place stop loss below key support.
- A strong sell signal is given when at least 6 of the arrows are in the red sell mode.
- Place stop loss above key resistance.
How to install the Fibonacci Moving Average Forex indicator to the Metatrader 4 platform?
- Download the kg-fibonacci-ma-indicator.mq4 indicator file here and save it to your computer
- Open your Metatrader 4 platform
- Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
- Click on “MQL4” and open the “Indicators” folder
- Paste the indicator file in this folder
- Restart Metatrader 4 and you’re ready to start using the indicator
How to edit the indicator?
- Attach the indicator to any trading chart of your preference
- Right click in the chart and select “Indicators List” from the drop down menu
- Select the indicator from the list and click on “Edit”
- Now you can start editing the indicator (Inputs, Colors and Visualization)
- Final step, click on the “OK” button to save the new configuration