BMA indicator is a custom version of the standard MT4 moving average indicator. The indicator consists of 3 lines: the central line is a regular moving average (it can be simple, exponential, smoothed or weighted), the upper line is shifted up by 2%, the bottom line is shifted down by 2%. These two additional lines serve as support and resistance levels. The indicator is available for both MT4 and MT5.
MA_Period (default = 49) - the period of the standard moving average (center line).
MA_Shift (default = 0) - horizontal shift for all lines on the chart.
MA_Method (default = Simple) - center line drawing type.
Percentage (default = 2) - upper and bottom lines vertical offset percentage.
How to trade with BMA indicator
The best way to use this indicator is to attach it to EUR/USD H4 chart (example shown above) and to sell when the price reaches upper band and to buy when the price reaches lower band. Moderate stop-loss level is advised in both cases as the price can sometimes break those levels or the lines may change directions suddenly.
How to download and install an indicator
In order to install the indicator on your MT4 or MT5 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT5>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “BMA indicator” template to apply it on the chart.
Note: This indicator was developed by a third party. AtoZ Markets does not carry any copyrights over this trading tool.