The Hodrick Prescott MA indicator for Metatrader 4 (MT4) follows the major trend with the help of a crossover moving averages system.
The Hodrick Prescott MA is a custom built moving average.
The indicator appears in the main MT4 chart as two colored moving averages that cross each other every time the trend turns in the opposite direction.
Buy & Sell Signals:
- Initiate a buy trade whenever the yellow moving average crosses the red moving average bottom-up.
- Initiate a sell trade whenever the yellow moving average crosses the red moving average top-down.
The Hodrick Prescott MA can be used for both entry and exit signals or mixed together with your own favorite trading strategy for improved performance.
For scalping and day trading purposes, the indicator tends to deliver the best results during the London and U.S. trading sessions.
Free Download:
Download the “Hodrick Prescott MA.mq4” indicator for MT4
Indicator Example Chart (EUR/USD M15)
The picture below shows the Hodrick Prescott MA mt4 indicator in action on the trading chart.
Trading Tips:
Utilize your own favorite trade entry, stop loss and take profit method to trade with the Hodrick Prescott MA Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Moving average
Repaint? No.
Download Now:
Download the “Hodrick Prescott MA.mq4” indicator for Metatrader 4
Installation:
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the Hodrick Prescott MA.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.