The 4-ma-strength-indicator for Metatrader 4 delivers buy and sell signals in a separate window below the main chart.
It consists of 4 moving averages with different period (can be fully customized).
Green bars above the zero level indicate the trend is bullish and traders look to go long.
Purple bars below the zero level indicate the trend is bearish and traders look to go short.
A blank space between the colored bars suggests the trend is flat or range-bound.
This indicator can be used for scalping, day trading and swing trading on any currency pair.
Free Download
Download the “4-ma-strength-indicator.mq4” MT4 indicator
Indicator Chart (EUR/USD H1)
The EUR/USD H1 chart below displays the 4-ma-strength-indicator forex indicator in action.
Basic Trading Signals
Signals from this indicator are easy to interpret and goes as follows:
Buy Trade: Open buy at the first green histogram bar.
Sell Trade: Open sell at the first purple histogram bar.
Close the open trade at an opposite signal (green to purple or purple to green), or use your own method of trade exit.
Download Now
Download the “4-ma-strength-indicator.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (Ma1_Period, Ma2_Period, Ma3_Period, Ma4_Period, Shift, TimePeriod, ShowDays) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Oscillator
