The MA Forex Signal Strategy indicator for Metatrader 5 is a solid trading strategy that creates signals based on a moving average + digital filter.
The indicator gets displayed in the activity chart as a bi-colored signal line.
The indicator is newbie friendly and it can be used by anyone, regardless of trading experience.
How it works?
- A green line indicates a bullish market trend.
- A red line indicates a bearish market trend.
For scalper and day traders, utilize this indicator during the London and New York trading hours.
The indicator contains the following inputs and parameters: MA period, MA method, applied price, shift, anchor difference (20).
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 MA Forex Signal Strategy indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The MA Forex Signal Strategy Indicator?
Find a simple trading example below:
- The start of the green line is your buy entry.
- Open a buy order and set your stop loss slightly below the most recent support zone.
- Exit the buy trade for a fixed profit target, or wait until the red line gets displayed on the chart.
- The start of the red line is your sell entry.
- Open a sell order and set your stop loss slightly above the most recent resistance zone.
- Exit the sell trade for a fixed profit target, or wait until the green line gets displayed on the chart.
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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 MA_Filter.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