The Moving Average Combo Signals forex indicator draws buy and sell signal arrow on the MT4 chart.
The indicator is a blend of 3 moving averages (Fast MA, Medium MA, Slow MA) with different periods.
This creates an easy to trade moving average crossover trading system.
- A buy signal occurs when the indicator paints a green arrow on the chart
- A sell signal occurs when the indicator paints a red arrow on the chart
The default moving averages period settings (5, 20, 34) can be changed from the indicator’s inputs tab.
Feel free to experiment with its MA period settings.
Use it for scalping, day trading and swing trading purposes.
The EUR/USD Hourly chart below displays the 3 Simple Moving Average Buy/Sell Arrows Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the 3 Simple Moving Average Buy/Sell Arrows MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade position when the forex indicator draws a green arrow on the Metatrader 4 chart.
Sell Signal: Open sell trade position when the forex indicator draws a red arrow on the Metatrader 4 chart.
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 (FasterMA, MediumMA, SlowerMA, SoundAlert) 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 3-ma-buy-sell.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)