The MA Cross Forex indicator for Metatrader 4 is a trading system that transforms moving averages into a powerful buy/sell oscillator.
Buying and selling with this indicator is simple and straightforward.
A bullish trade should be opened when the blue MA Cross signal line turns back above the 0.00 level.
A bearish trade should be opened when the blue MA Cross signal line turns back below the 0.00 level.
The picture below is an example of how the MA Cross Forex indicator looks like when applied to the EUR/USD 1-hour trading chart.
How to buy and sell currency pairs with the MA Cross indicator?
The indicator can be used in multiple ways, please find a classic trading example below:
- A buy signal is given when the blue MA Cross line crosses back above the 0.00 level.
- Place your stop loss 5 pips below support.
- Take profit at a fixed pip target level (for example 15 pips on the M5 trading chart) or close the buy trade when a sell signal occurs on the chart.
- A sell signal is given when the blue MA Cross line crosses back below the 0.00 level.
- Place your stop loss 5 pips above resistance.
- Take profit at a fixed pip target level or close the buy trade when a buy signal occurs on the chart.
How to I install and run this Forex indicator on Metatrader 4?
- Download the ma-cross-indicator.mq4 indicator file here and save it to your computer
- Open the Metatrader 4 trading platform
- From the top menu, click on “File” to open the drop down menu
- Select the “open data folder” and navigate to the “MQL4” folder
- Then navigate to the “Indicators” folder
- Copy the indicator into the “Indicators” folder
- Close the trading platform and restart it
- The indicator will be automatically installed on MT4
- You will find the installed indicator in the Navigator window
- In order to start using it, drag and drop the indicator to the chart