The ADX FIBO MA Forex trend indicator for Metatrader 4 is a smart blend of the ADX, Fibonacci and moving average technical indicators.
It’s trend trading indicator that works best in trending environments.
How to interpret?
- Price action above all colored lines suggests a strong bullish trend.
- Price action below all colored lines suggests a strong bearish trend.
The indicator has some interesting parameters, such as, stop loss, take profit and the number of lots.
Indicator Example Chart (EUR/USD Daily)
How to trade with it (example)?
Buy the currency pair whenever price rises above all colored signal lines. The trend is now strongly bullish.
Sell the currency pair whenever price falls below all colored signal lines. The trend is now strongly bearish.
Exit the trade for a fixed profit target, or near important support and resistance levels.
Place a stop loss above or below the previous swing high/low price.
Feel free to use your own favorite trading method to open and close trades with the ADX FIBO MA 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 period, lots, take profit, stop loss, trailing stop, golden ratio, ADX type, color settings & style
Indicator type: trend
Repaint? Does not repaint the colored signal lines on the chart.
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 adx-fibo-ma-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.