i AMA Optimum Metatrader 4 Forex Indicator
The i AMA Optimum forex indicator for Metatrader 4 is a modificated version of the traditional moving average.
It is considered to be trend following in nature.
- Price above the i AMA Optimum indicator is bullish
- Conversely, price below the i AMA Optimum is bearish
Experiment with the Fast and Slow indicator settings for more reliable trading signals.
My preferred settings: Fast (2.0) and Slow (50.0).
It does well for scalping (M1, M5), day trading (M5, M15, M30) and swing trading (H1, H4, D1).
The EUR/USD H1 chart below displays the i AMA Optimum forex indicator in action.
Basic Trading Signals
Signals from the i AMA Optimum forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy position after price rises and closes above the AMA indicator line (bullish price movement).
Sell Signal: Open sell position after price falls and closes below the AMA indicator line (bearish price movement).
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (P, Fast, Slow) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: moving average
Copy and paste the i-ama-optimum.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)