The MA Angle Forex indicator for Metatrader 4 is a technical oscillator that can be used for trade entry and exit signals.
The indicator appears in a bottom chart of the trading platform as a yellow colored line that oscillates above and below the 0.00 level.
The trend is bullish when the yellow MA Angle line crosses back above the 0.00 technical level.
The trend is bearish when the yellow MA Angle line crosses back below the 0.00 technical level.
For short-term currency traders, deploy the indicator during the volatile trading sessions for best performance.
Indicator Chart Example
The picture below shows the MA Angle indicator attached to the EUR/USD 1-hour chart.
How to use the MA Angle Forex indicator?
The indicator can be used in multiple ways, find an example below:
- Open a buy transaction when the yellow line crosses the zero level bottom-up.
- Place your stop loss 3 pips below support.
- Exit the buy trade for a fixed take profit target or wait for an opposite trading signal.
- Open a sell transaction when the yellow line crosses the zero level top-down.
- Place your stop loss 3 pips above short-term resistance.
- Exit the sell trade for a fixed take profit target or wait for an opposite trading signal.
How to install the indicator to the Metatrader 4 platform?
- Download the ma-angle-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