The Amka Signals indicator for the Metatrader 4 platform is a trend following signals indicator which is based on the AMA MT4 indicator.
This version works pretty good in predicting bullish and bearish currency markets.
Trading the Amka signal indicator is utterly easy:
- A buy signal occurs when a blue Amka dot appears on the activity chart
- A sell signal occurs when a red Amka dot appears on the activity chart
Amka can be used as a stand alone signals indicator or together with other technical forex indicators.
For instance, you could combine it with MACD or Slow Stochastic.
All trading parameters can be fully modified from the Amka indicator inputs tab.
The EUR/USD 1-Hour chart below displays the Amka Signals Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Amka Signals MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade when the Amka dot changes color from red to green (bullish trend reversal).
Sell Signal: Go short when the Amka dot changes color from green to red (bearish trend reversal).
Trade Exit: Close the open buy/sell trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (periodAMA, nfast, nslow, Pow, dK, applied price) 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 amka-indicator.mq4 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)