4 MA’s Trend Metatrader 4 Forex Indicator
The 4 MA’s Trend MT4 forex indicator draws buy and sell signal bars in a separate window based on the crossover of 4 moving averages with different period.
It’s a trend-following trading indicator.
Green bars for an up trending market, red bars for a down trending market and yellow bars for a flat market.
This indicator can be used for scalping, day trading, swing trading and position trading on any currency pair for your chosen timeframe.
The indicator is beginner friendly and self explanatory.
The GBP/USD H1 chart below displays the 4 MA’s Trend forex indicator in action.
Basic Trading Signals
Signals from the 4 MA’s Trend indicator are easy to interpret and goes as follows:
Buy Trade: Open buy trade at the first green histogram bar.
Sell Trade: Open sell trade at the first red histogram bar.
Close the open trade at an opposite signal (green to red or red to green), or use your own method of trade exit.
Tip: Do not open new trades at the yellow bars, it means the market is ranging. Just wait for green or red bars to enter new trades.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (Ma1_Value, Ma2_Value, Ma3_Value, Ma4_Value, Mode) 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 4mas-trend-indicator.mq4 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)