The Ama Signals MT4 indicator is a trend-following buy/sell forex signals trading indicator.
The indicator draws two different dot colors, blue and brown.
A blue colored dot indicates the market is trending up. Currency traders look for buy trade opportunities.
On the contrary, a brown colored dot indicates the market is trending down. In this case, traders look for sell trade opportunities.
Ama Signals can be applied to any timeframe and works great for scalpers, day traders and swing traders.
The indicator is beginner friendly and has a good win rate.
The EUR/USD H1 chart below displays the Ama Signals forex indicator in action.
Basic Trading Signals
Trading the Ama Signals forex indicator goes as follows:
Buy Trade: Open buy order when the indicator draws a blue dot(s) on the trading chart.
Sell Trade: Open sell order when the indicator draws a brown dot(s) on the trading chart.
Close the open trade at an opposite signal (from blue to brown or from brown to blue) or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (periodAMA, nfast, nslow, G, dK) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the ama-signals.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)