The 4 MA Candles Forex indicator for Metatrader 5 is composed of 4 moving averages and provides the best trend direction for any time frame and currency pair.
It gets displayed in the price chart as green and orange colored candles appearing above and below the actual candlesticks.
The popular 4 MA Candles indicator can be utilized by scalpers, day traders, and swing traders.
Key takeaways:
- A series of green colored consecutive 4 MA Candles indicate a strong uptrend.
- A series of orange colored consecutive 4 MA Candles indicate a strong downtrend.
The indicator contains the following inputs and parameters: averages period (25), averages method (EMA).
Worth noting: take the time to become familiar with it and conduct thorough testing on a demo account.
This will enable you to gain a complete understanding of its functionality.
The indicator’s performance can vary greatly depending on the specific market conditions, including trending markets, sideways markets, and others.
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4_ma_candles.mq5 Indicator (MT5)
Chart Example
The chart below illustrates how the 4 MA Candles indicator looks like when applied to the MT5 chart.
How To Buy And Sell With The 4 MA Candles Forex Indicator?
Find a simple trading strategy below:
Buy Signal
- A green colored 4 MA Candle generates a buy signal.
- Open a buy market order and place a stop loss below technical support.
- Exit the buy trade for a predetermined pips target, or wait for an opposed orange colored 4 MA Candle.
Sell Signal
- An orange colored 4 MA Candle generates a signal signal.
- Open a sell market order and place a stop loss above technical resistance.
- Exit the sell trade for a predetermined pips target, or wait for an opposed green colored 4 MA Candle.
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4_ma_candles.mq5 Indicator (MT5)
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 4_ma_candles.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