The MA On Momentum Forex indicator for Metatrader 5 is a signals oscillator that combines momentum and a moving average.
The indicator appears in a separate chart window as two colored lines (momentum + moving average) and oscillates above and below the 100.00 level.
The MA On Momentum indicator responds quickly to price movements and suits both scalpers and day traders.
- A short-term bullish trend occurs when both colored lines oscillate above the 100.00 level.
- A short-term bearish trend occurs when both colored lines oscillate below the 100.00 level.
The MA On Momentum Forex indicator can be easily combined with other technical indicators.
The following indicator inputs can be modified to suit your preferences: momentum averaging period, type of price, MA averaging period, MA smoothing period.
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 On Momentum Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The MA On Momentum Indicator?
Find a simple trading example below:
- A bullish trend occurs when both lines cross the 100.00 level bottom-up.
- Open a buy trade and set a stop loss below short-term support.
- Close the buy trade when an opposite sell trading signal occurs on the chart.
- A bearish trend occurs when both lines cross the 100.00 level top-down.
- Open a sell trade and set a stop loss above short-term resistance.
- Close the sell trade when an opposite buy trading signal occurs 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 on Momentum.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