The Multiple Time Frame Moving Average Cross With Alert MT4 forex indicator is a currency crossover system of 3 moving averages.
The indicator draws a blue arrow on the chart when the faster moving average (blue MA) is aligned above both the medium (green MA) and slower (red MA) moving average AND the medium moving average is aligned above the slower moving average.
Conversely, the indicator draws a red arrow on the chart when the faster moving average is aligned below both the medium and slower moving average AND the medium moving average is aligned below the slower moving average.
From the indicator’s inputs tab, you can choose from 4 different types of moving averages: simple moving average, exponential moving average, smoothed moving average and linear weighted moving average.
Feel free to experiment with the different types of moving averages.
The EUR/USD Hourly chart below displays the Multiple Time Frame Moving Average Cross With Alert Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Multiple Time Frame Moving Average Cross With Alert MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Initiate a new buy trade when the indicator draws a blue arrow on the Metatrader 4 chart.
Sell Signal: Initiate a new sell trade when the 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 (Time frame, FasterMA, MediumMA, SlowerMA, showMA’s, alertsON) 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-cross-with-alert-mtf.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)