Forecasting Moving Average Metatrader 4 Forex Indicator
The Forecasting Moving Average MT4 indicator predicts the future position of the moving average one bar in advance.
This kind of information can be useful for scalpers and intraday traders looking for fast profits.
The idea behind the Forecasting moving average:
Keep long position: when the indicator predicts the moving average will rise the next bar (price goes up).
Keep short position: when the indicator predicts the moving average will fall the next bar (price goes down).
The EUR/USD M15 chart below displays the Forecasting Moving Average forex indicator in action.
Basic Trading Signals
See description above on how to take advantage of this indicator.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (MA_Period, MA_Shift, MA_Method, Past, Future) 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 forecast-moving-average.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)