Moving average (MA) – one of the most popular and most common technical forex indicator.
The application of moving averages on Forex is based on the analysis of the behavior of a currency pair relative to the moving average price of a pair for a certain period (the number of candles). It is believed that with the help of moving averages, more money was earned in the forex market than with any other strategy.
The moving average is well known to all traders and it makes no sense to describe its calculation and method of use. Instead, I present a modified version of the standard indicator.
The indicator I-L_MTF_3_MA shows from one to three moving averages from the desired timeframe on all timeframes (or selected ones) in the MT-4 trading terminal.
The moving average is a low-pass filter, that is, it passes low-frequency activity (long-term cycles and their trend lines), cutting off high-frequency – random fluctuations and referring to trend indicators.
Let’s look at an example at the beginning. On the timeframe M30 of the currency pair USDJPY, 4 exponential moving averages with a period of 100 from different timeframes – D1, H4, H1, M5, are reflected.
The indicator I-L_MTF_3_MA has all the standard settings for moving averages and allows you to put an unlimited number of indicators on the schedule flexibly adjusting them for the needs of each trader.
The indicator I-L_MTF_3_MA can be used in various trading strategies and allows traders to coordinate technical analysis on different timeframes in the MT4 terminal.
Download the indicator I-L_MTF_3_MA you can follow the link below.
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