Engulfing Moving Average Metatrader 4 Forex Signals Indicator
The engulfing moving average Forex signals indicator for MT4 delivers easy to trade buy and sell signals that work for any pair and time frame of your choice.
The signals are based on an engulfing moving average.
- A blue UP arrow represents a buy signal.
- A red DOWN arrow represents a sell signal.
You can choose from the following moving average methods:
- Linear weighted
Deploy as a stand alone Forex signals indicator or combine with other technical indicators or with price action methods.
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
The NZD/JPY 5-Minute chart below displays the Engulfing Moving Average Metatrader 4 Forex Signals indicator in action.
Basic Trading Signals
Signals from the Engulfing Moving Average Forex Signals MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade when a blue engulfing arrow appears on the chart. The price is now bullish.
Place a stop loss below support or use your own preferred SL method.
Take profit at an opposite sell signal arrow or at fixed profit target.
Sell Signal: Open a sell trade when a red engulfing arrow appears on the chart. The price is now bearish.
Place a stop loss above resistance or use your own preferred SL method.
Take profit at an opposite buy signal arrow or at fixed profit target.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (period moving average, MA method, MA price, Alert, draw candle) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: Moving Average
Copy and paste the engulfing_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)