The Magical 3 MA Forex Trend indicator for Metatrader 5 is a beginner friendly MA trend crossover system consisting of 3 moving averages.
It’s composed of a fast, medium and slow type smoothed moving average.
The MA crossover system trade logic works as follows:
- A buy trend occurs when the fast MA is positioned above the medium MA and slow MA + the medium MA is positioned above the slow MA.
- A sell trend occurs when the fast MA is positioned below the medium MA and slow MA + the medium MA is positioned below the slow MA.
The following indicator inputs can be modified to suit your preferences: fast MA period, medium MA period, low MA period, type, enable buy or sell suggestion.
Make yourself familiar with this solid technical indicator and test it first on a demo account for an extended period of time.
It supports all time frames and Forex pairs.
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The following chart shows how the Magical 3 MA Forex Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Magical 3 MA Forex Trend Indicator?
Find a simple trading example below:
- A buy signal is confirmed when the green MA > blue and Gold MA and the blue MA > Gold MA (see chart example above).
- Open a long transaction and place your stop loss below the most recent support area.
- Close the buy trade for a reward/risk ratio of at least 1.5, or wait for a sell signal.
- You can also use your own trading method to exit the buy trade.
- A sell signal is confirmed when the green MA < blue and Gold MA and the blue MA < Gold MA.
- Open a short transaction and place your stop loss above the most recent resistance area.
- Close the sell trade for a reward/risk ratio of at least 1.5, or wait for a buy signal.
- You can also use your own trading method to exit the sell trade.
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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 PS_Magicas.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