"5MAs At Once" Convenient MT4 Indicator For Moving Average Traders
Moving Average (MA) is the most popular indicator. There are also many other indicators which are based on moving averages, such as the widely popular MACD. Because of this, most traders use moving averages in some way.
Our indicator for MT4 that is introduced below can display such moving average lines collectively.
In the above example, 5 moving average lines (8 21 50 100 200) are displayed on the hourly chart. In this way, it would be very useful if moving average lines could be displayed together in one indicator. In addition, if five moving average lines are displayed, you can grasp the trend just at a glance.
The use of this indicator may not be necessary, especially if you are using moving averages on a regular basis. If you do not know how to use it, please refer to the following tips.
1. Use for grasping trends
- When a strong trend occurs, the moving average line drops uniformly. The opposite is also true. Thus, "5 MA" can be used for trend judgment. Also, if the moving average lines are intertwined, it may be a range market.
2. Use for entry
- It would be nice to trade using a moving average crossover. For example, if the 8-day moving average line exceeds the 21-day moving average line, you can place a buy order. There are 5 moving average lines, so the variation of the crossover is also abundant. Try it out and find out how to use it.
- ma1-Calculation period used for the first moving average line
- ma2-Calculation period used for the second moving average line
- ma3-Calculation period used for the third moving average line
- ma4-Calculation period used for the fourth moving average line
- ma5-Calculation period used for fifth moving average line
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.