The 4 MA Strength Forex indicator for MT4 delivers buy/sell signals based on a 4 moving averages colored trading system.
The indicator analyses the price chart for both trend direction and strength.
After loading the 4 Moving Averages indicator on the chart, it displays a colored trend bar histogram.
- A light-green colored bar histogram signals a buy trend.
- A pink colored bar histogram signals a sell trend.
Indicator Example Chart (EUR/USD M30)
How to trade with it?
Open a buy trade whenever the first light-green colored 4 MA’s bar pops up on the chart.
Open a sell trade whenever the first pink colored 4 MA’s bar pops up on the chart.
Exit the trade when an opposite trading signal occurs on the chart or close the trade for a risk to reward ratio of at least 1.5.
Feel free to use your own favorite trading method to open and close trades with the 4 MA Strength Forex indicator.
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: MA 1 period, MA 2 period, MA 3 period, MA 4 period, shift, method, show days, color settings & style
Indicator type: Moving averages
Repaint? Does not repaint the 4 MA’s colored bars histogram.
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the 4-ma-strength-indicator.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.