The Hull Moving Average (HMA) forex indicator for Metatrader 4 is quite often used in forex systems and trading strategies.
Developed by Alan Hull, the Hull Moving Average consists of a fast and more smooth moving average.
Trading with Hull is very simple to understand:
As can be seen from the Euro/U.S Dollar chart below, a green HMA signal line represents a bullish trend.
A purple HMA signal line represents a bearish trend.
The HMA can be used in isolation or together with other technical indicators or price action.
For instance, combine with a slow stochastic oscillator for scalping purposes.
Go long when the HMA is bullish and the slow stochastic oscillator is oversold.
Go short when the HMA is bearish and the slow stochastic oscillator is overbought.
Feel free to experiment with the HMA default indicator parameters. You can access them directly from the indicator’s inputs menu.
Download the “hull-moving-average.ex4” MT4 indicator
The EUR/USD daily chart below displays the Hull Moving Average Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Hull Moving Average MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open long position when the Hull Moving Average changes its colored line from purple to green. This is a bull trend. Place stop-loss below the last swing low price.
Sell Signal: Open sell position when the Hull Moving Average changes its colored line from green to purple. This is a bear trend. Place stop-loss above the last swing high price.
Trade Exit : Use your own method of trade exit.
Download the “hull-moving-average.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (period, method, 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 hull-moving-average.ex4 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)