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LWMA Forex Signal Indicator MT4

    The LWMA Forex Signal indicator for Metatrader 4 is a crossover trading system based on two linearly weighted moving averages (LWMA).

    The indicator will signal a buy trade when the faster LWMA crosses the slower LWMA bottom-up.

    The indicator will signal a sell trade when the faster LWMA crosses the slower LWMA top-down.

    The slower and faster LWMA period can be adjusted by editing the indicator’s inputs.

    Free Download

    Download the lwma-crossover-signal.mq4 indicator file (MT4)

    Indicator Chart Example

    The picture below shows the LWMA Forex Signal indicator attached to the Euro / U.S. Dollar H4 chart.

    How to use the LWMA Forex Signal indicator?

    The indicator can be used in multiple ways, find an example below:

    Buy Signal:

    • A buy signal occurs as soon as the green colored arrow appears on the chart.
    • Place your stop loss below the most recent swing low.
    • Exit the buy trade for a fixed take profit target or wait for a sell signal.

    Sell Signal:

    • A sell signal occurs as soon as the red colored arrow appears on the chart.
    • Place your stop loss the above most recent swing high.
    • Exit the sell trade for a fixed take profit target or wait for a buy signal.

    How to install the LWMA Forex Signal indicator to the Metatrader 4 platform?

    • Download the lwma-crossover-signal.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