Simple moving average crossover signals are very popular among currency traders worldwide.
This is what the Array Simple Moving Average MT4 indicator is all about.
It provides you with currency trading signals based on the crossover of 2 simple moving averages.
The system consists of a fast MA and slow MA with different period settings. This creates the crossover trading system.
The default indicator period settings for both fast MA and slow MA can be changed from the inputs tab.
Feel free to experiment with its settings or to use in agreement with other technical analysis tools.
The EUR/USD 1-Hour chart below displays the Array Simple Moving Average Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Array Simple Moving Average MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade when the blue signal line crosses above the red signal line from below (bull trend).
Sell Signal: Open sell trade when the red signal line crosses above the blue signal line from below (bear trend).
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 (fastMA, slowMA) 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 array-test-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)