Guppy Multiple Moving Averages Long Metatrader 4 Forex Indicator
The Guppy Multiple Moving Averages Long MT4 indicator is another version of the well-known Guppy trend forex indicator.
This version consists of Multiple Moving Averages with longer MA period.
The advantages: This indicator will generate less false signals and will stick longer with the most profitable trend.
Drawback: Less buy and sell signals to trade.
The indicator works well if you are looking for more pips/trade.
It can be used as a standalone trend following forex indicator.
Deploy it on any currency pair and for all timeframe’s.
For short-term trading, deploy the indicator on the M1, M5 and M15 Metatrader 4 charts.
The EUR/USD 4-hour chart below displays the Guppy Multiple Moving Averages Long Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Guppy Multiple Moving Averages Long MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Initiate a long trade when the candlestick is well positioned above all red Guppy MA’s and the Guppy MA’s are pointing upward. Place a stop-loss below support.
Sell Signal: Initiate a short trade when the candlestick is well positioned below all red Guppy MA’s and the Guppy MA’s are pointing downward. Place a stop-loss above resistance.
Trade Exit : Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: 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 guppy-mulitple-moving-average-long.mq4 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)