Mcginley Dynamic Metatrader 4 Forex Indicator

The Mcginley Dynamic forex indicator for the Metatrader 4 platform is a moving average based indicator with smoothing factor to reduce false signals.

Price action above the Mcginley indicator: look for possible buy signals.

Price action below the Mcginley indicator: look for possible sell signals.

The indicator settings (period, smooting factor) can be changed directly from the indicator’s input tab.

Use together with an oscillator indicator (MACD, Stochastic) to build a complete trading system.

Free Download

Download the mcginley-dynamic-indicator.mq4” MT4 indicator

Example Chart

The EUR/USD H1 chart below displays the Mcginley Dynamic forex indicator in action.

Basic Trading Signals

Signals from the Mcginley Dynamic indicator are easy to interpret and goes as follows:

Buy Signal: Open buy order when price crosses and closes above the Mcginley line from below (bullish signal).

Sell Signal: Open sell order when price crosses and closes below the Mcginley line from above (bearish signal).

Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.

Download

Download the mcginley-dynamic-indicator.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern

Customization options: Variable (Periods, Smoothing) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: Trend

Installation

Copy and paste the mcginley-dynamic-indicator.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)

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