The Hull Moving Average signals indicator for Metatrader 4 consists of a dual colored buy/sell signal line and works for any currency pair and time frame.
As the name implies, the indicator is based on the popular Hull Moving Average (HMA).
When loaded onto MT4, a dual colored line appears on the activity chart.
The colored HMA line shows you the trend, either buy or sell.
- A green HMA signal line represents a buy signal.
- A red HMA signal line represents a sell signal.
The HMA indicator could be used as a stand-alone trading tool but I prefer to mix it up with other technical indicators.
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
The EUR/USD daily chart below displays the Hull Moving Average signals Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the Hull Moving Average signals MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Initiate a buy trade when the HMA signals line reverts back from red to green. The trend is now upward.
Place a stop loss below support or use your own preferred SL method.
Sell Signal: Initiate a sell trade when the HMA signals line reverts back from green to red. The trend is now downward.
Place a stop loss above resistance or use your own preferred SL method.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (HMA period, HMA price type, HMA method) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Copy and paste the hma-color-nrp-indicator.ex4 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)