The 4 MA Candles Forex indicator for Metatrader 5 transforms price action into a powerful trend signals indicator.
It’s composed of 4 different moving averages that appear on the chart as colored green/orange candlesticks that provide trend direction.
As a general rule, green colored candlesticks indicate a bullish trend while orange colored candlesticks a bearish trend.
For scalping and day trading purposes, deploy the indicator during the most active trading sessions.
The 4 MA Candles indicator can be easily combined with other trading indicators and Forex systems.
- Based on 4 moving averages
- 100% No-repaint indicator
- Works for any currency pair
- Trend-following indicator
- Works for any time frame
- Newbie friendly indicator
- Programmed for Metatrader 5
The chart below shows the 4 MA Candles Forex indicator attached to the EUR/USD 1-hour chart.
The 4 MA Candles indicator for MT5 can be used in multiple ways, find a basic trading example below:
- A new buy signal is given when the first green colored 4 MA candles candlestick appears on the chart.
- Place your stop loss 2-3 pips below support.
- Exit the buy trade when an orange colored candlestick appears on the chart.
- A new sell signal is given when the first orange colored 4 MA candles candlestick appears on the chart.
- Place your stop loss 2-3 pips above resistance.
- Exit the sell trade when a green colored candlestick appears on the chart.
How to install the Adaptive ATR Channel indicator in Metatrader 5?
- Copy the 4_ma_candles indicator in the MT5 indicator folder
- Restart the trading platform
- Select and attach the indicator to any chart of your preference
How to remove the indicator from the chart?
- Click with your right mouse button in the chart
- Select the indicator list from the dropdown menu
- Remove the indicator from the list
- Press close