The AMA Forex indicator follows the trend and prints the most likely trend on the MT4 chart with the help of colored buy and sell dots.
Overall the results from this indicator looks quite impressive.
It’s a typical stop and reverse trading system (always active in the market).
- A blue colored dot represents a new buy trade opportunity.
- A red colored dot represents a new sell trade opportunity.
For scalping on the lower time frames, it’s advised to use the AMA trend indicator during the London and U.S. trading sessions for best performance.
Indicator Example Chart (EUR/USD M30)
How to trade with it (example)?
Open a new buy trade whenever the blue AMA signal dot gets printed on the chart.
Open a new sell trade whenever the red AMA signal dot gets printed on the chart.
Close the trade when an opposite trading signal appears on the chart, or for a fixed profit target of your preference.
Utilize a short-term stop loss to minimize your losses.
Feel free to use your own favorite trading method to open and close trades with the AMA Forex indicator.
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: AMA period, n fast, n slow, G, dK, color settings & style
Indicator type: trend
Repaint? Does not repaint the AMA dotted signal line.
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 AMA.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.