Multi Moving Average MT4 indicator enables traders to determine the direction of several different moving averages that are compiled in one window. This helps to understand what trend currently prevails, by adjusting the MA values and types to suit the traders’ style.
Download Multi Moving Average MT4 indicator
Moving averages represent a reliable and widely used analysis tool. Despite a large number of MA type calculations, the use of moving averages is based on few factors: possibility to determine the prevailing trend direction by noting the slope of several MAs, treating the main moving averages as dynamic support and resistance levels, and confirming range breakouts with the trend direction indicated by the MAs.
Using the Multi Moving Average MT4 indicator, traders can easily determine the trend showed by four moving averages. The color of the dashed indicator line shows the MA slope. The red color of moving averages means that the MA is sloping downward, hence the trend is bearish. The green color of the Multi Moving Average MT4 indicator suggests uptrend – the market is bullish. Note that the higher the value of an MA, the longer it takes it to react to trend changes and vice-versa. Therefore, it is best to confirm the trend by several MAs. That being said, higher value MAs show the direction of prevailing trend on a senior timeframe. Based on market direction, traders can make more profitable market entry/exit decisions and identify short term corrections in an overall trend.
How to install Multi MA indicator on MT4
How to install your indicator on the MT4 platform:
1. Click on the Download button above.
2. Save the file to your computer.
3. Move the .ex4 file into the following folder: meta traderexpertsindicators.
4. Restart your Metatrader platform.
5. Click the “Indicators” button in the Metatrader toolbar.
6. Select “Custom”.
7. Search and select “Multi Moving Average”.
8. Adjust settings or press OK to add the indicator to your selected chart.
Note: Multi Moving Average MT4 indicator is developed by InstaForex and was sent by an AtoZForex follower from Ukraine, Piotr. AtoZForex does not carry any copyrights over this trading tool.
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