The R Moving Average Metatrader 5 custom Forex indicator is in a certain way an average of the entire calculation variants of the classical Moving Average.
Twenty eight variants for the r_Ma Metatrader 5 indicator calculation (four versions of the averaging method and seven versions of the input price) can be gotten if we tweak the “Ma period.”
Calculating the moving average is comparative to averaging out the forex price for a specified time frame.
The r_ma MT5 forex indicator line either increases or decreases as price changes.
The default line color is Indian red.
One of the most common way to understanding the r_Ma Metatrader 5 forex indicator is to compare its dynamics to the price action.
When price align above the R Moving Average MT5 forex indicator line, a bullish trend is in the making.
While if the price align below the R Moving Average indicator line, a bearish trend is in focus.
Download the “r_Ma.ex5” MT5 indicator
The EUR/CHF H1 chart below displays the R Moving Average Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when price aligns above the Indian red line of the r_Ma Metatrader 5 custom forex indicator.
Sell Signal: Go short when price aligns below the Indian red line of the r_Ma Metatrader 5 custom forex indicator.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, price closes below the Indian red line of the r_Ma MT5 fx indicator.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, price closes above the Indian red line of the r_Ma MT5 fx indicator.
Tips: The r_Ma Metatrader 5 custom Forex indicator is suitable for short and long term traders.
Download the “r_Ma.ex5” Metatrader 5 indicator
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (MA period, Horizontal shift of the MA in bars, Vertical shift of the MA in bars), 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 r_Ma.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)