The Ultimate MA Metatrader 4 forex indicator is a moving average that is built on the Ultimate Oscillator.
The indicator successfully calculates the weighted average of three moving averages i.e. Simple, Exponential or Linear Weighted.
The three moving averages are highly adjustable, as such the Ultimate MA indicator is able to spot trend better than the single moving average.
Interestingly, the Ultimate MA indicator can also be used as a gauge to filter entry/exit points in the market.
Instead of deploying two/three SMAs or EMAs that can invariably result in chart window cluster, the Ultimate MA indicator offers a good alternative.
The EUR/USD H1 chart below displays the Ultimate MA Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when price opens and closes above the medium violet red line of the Ultimate MA Metatrader 4 indicator.
Sell Signal: Go short when price opens and closes below the medium violet red line of the Ultimate MA Metatrader 4 forex indicator.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, price closes below the medium violet red line of the Ultimate MA indicator.
Exit sell trade: Close all sell orders if while a bearish trend is running, price closes above the medium violet red line of the Ultimate MA indicator.
Tips: The Ultimate MA indicator is a price smoothing indicator that can also be an amazing substitute to simple moving average or exponential moving average.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (MA_Method, fastperiod, middleperiod, slowperiod, fastK, middleK, slowK), 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 ultimate-ma.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)