Fractal AMA Metatrader 5 Forex Indicator
The Fractal AMA is short for the fractal adaptive Moving Average, a Metatrader 5 custom forex tool that was developed by John Ehlers.
The RPeriod is one of the indicator’s very important input parameter that defines length, and is forcibly equal to an even number.
If this variable gets an odd number, it will be decreased to an even number.
One of the easiest use of this indicator is the crossover of Fractal AMA MT5 forex indicator orange line and its purple line.
Other inputs parameters asides the RPeriod that are available on the fractalama_mbk Metatrader 5 custom indicator includes:
- Multiplier – defines the step distance of the moving averages
- Signal_Multiplier – defines the signal step distance of the moving averages
- Horizontal shift of the indicator in bars – defines the horizontal distance between the moving averages in bars
The USD/JPY H4 chart below displays the fractalama_mbk Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the purple line of the fractalama_mbk Metatrader 5 forex indicator intersects the orange line in a bottom up manner (with price trading slightly above).
Sell Signal: Go short when the purple line of the fractalama_mbk Metatrader 5 forex indicator intersects the orange line in a top downward manner (with price trading slightly below).
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the fractalama_mbk MT5 fx indicator line crosses.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the fractalama_mbk MT5 fx indicator line intersects.
Tips: The fractalama_mbk Metatrader 5 forex indicator is well suited for trend seekers in the market.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (RPeriod, multiplier, signal_multiplier, horizontal shift of the indicator bars), 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 fractalama_mbk.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)