The Dynamic Moving Average Forex indicator for Metatrader 5 follows the overall trend and it can be easily used to build a crossover Forex system.
DMA stands for Dynamic Moving Average and it follows the trend closely.
The following indicator inputs and parameters can be modified: period (17), applied price (close price), and color.
The DMA indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
Please 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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Chart Example
The following chart shows how the Dynamic Moving Average indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Dynamic Moving Average Indicator?
Find a simple trading example below:
Add two Dynamic Moving Averages (DMA) with different period settings to the price chart and use it as a crossover Forex trading system.
For instance:
Dynamic Moving Average period 1: 10 (short moving average)
Dynamic Moving Average period 2: 50 (long moving average)
Trade Logic:
When the short-term DMA crosses above the long-term DMA, it creates a buy signal.
When the short-term DMA crosses below the long-term DMA, it creates a sell 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 DMA.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
