VOLCANOWMA is a popular Metatrader 4 buy & sell signals indicator (non repaint) that can be downloaded for free here.
The indicator analyzes any currency pair with great precision and draws the accompanying buy and sell signal arrow on the main trading chart.
In essence, the indicator will help you in taking informed buy/sell trading decisions.
Buy & sell signal:
- A buy signal is given when the green arrow is painted on the chart.
- A sell signal is given when the red arrow is painted on the chart.
Feel free to experiment with the indicator’s default input values.
The VOLCANOWMA indicator can be used as a standalone signal indicator or together with an existing trading system of your preference.
The picture below shows the VOLCANOWMA mt4 indicator attached to the EUR/JPY M30 chart.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (sound ON), color settings & style
Indicator type: Forex signals
How to install the VOLCANOWMA indicator in Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.