The Average of 18 Moving Averages Forex trend indicator for Metatrader 5 shows the average price of 18 different MA’s on the trading chart.
It uses the simple moving average, exponential moving average, smoothed moving average, linear-weighted moving average, triangular moving average, Hull moving average,.. in its calculations.
This indicator is trend-following in nature and can be used for both trade entry and exit.
Often, moving averages are used in simple crossover trading systems and strategies.
How to spot buy and sell trends with it?
- The trend is bullish when price moves above the moving average.
- The trend is bearish when price moves below the moving average.
The indicator contains the following inputs and parameters: period (50), applied price.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the Average of 18 Moving Averages Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Average of 18 Moving Averages Indicator?
Find a simple trading example below:
- A buy signal is given when price closes above the Average of 18 Moving Averages indicator from below.
- Open a buy transaction and place your stop loss below the most recent swing low.
- Close the buy trade for a fixed profit target of your preference, or wait for a sell signal.
- A sell signal is given when price closes below the Average of 18 Moving Averages indicator from above.
- Open a sell transaction and place your stop loss above the most recent swing high.
- Close the sell trade for a fixed profit target of your preference, or wait for a buy signal.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the 18AvgMA.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration