The buy and sell signals 5/20 Forex indicator for MT4 is based on a break above/below the 5 period MA and the 20 period MA.
It’s optimized to use with the 1 hour time frame.
Trading Signals
Strong buy: price breaks above the 20 MA and the 5 MA.
Strong sell: price breaks below the 20 MA and the 5 MA.
Avoid weak buy and weak sell signals.
Indicator Preferences
Currency pairs: any
Preferred Time frames: 1 hour time frame
Sessions: any
Download
Download the open_position_ma5.mq4 indicator.
Configurable Indicator Options
MA_fast, MA_slow_MA_shift_fast, MA_shift_slow
EUR/USD Hourly Chart Example
How to install the Buy and Sell 5/20 Moving Average custom indicator in Metatrader 4?
- Download the open_position_ma5.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.