"MTF_Moving Average" Indicator
In this article, we’ll introduce an advanced/improved version of the popular moving average (MA) indicator. This MT4 indicator is a moving average line converted to MTF (multiple time frames) and, therefore, can be useful across different timeframes , not just one.
This "MTF_MovingAverage" indicator can be used in various ways and used for trend analysis. Read on to find out how it works and to download it for free.
Tips on how to use:
1. It is recommended to use this indicator for taking trades and trend judgment.
- For example, let's say you trade on the hourly chart but one of the conditions for taking a trade uses the 100-period moving average of the 4-hour or the daily chart. In this case, you can use this improved MA indicator to display the 100-period moving average of the higher timeframe on the hourly chart which is your trigger chart for a trade.
2. Displaying the all-important 100-day and 200-day moving averages on the chart.
- The 100 and 200 period moving averages of the daily chart are really important. These 100-day and 200-day moving averages are often a support and resistance zone because many traders are watching them across all different timeframes. For this reason, even if you don’t trade based on the daily chart, it may be useful to have the 200-day and 100-day moving averages displayed on lower timeframes as well.
- For example, a 200-day moving average line of a daily chart is displayed on a 5-minute chart, and this 200-day moving average line is used as a potential support/resistance zone.
The moving average line of a lower time frame cannot be displayed on higher time frames. For example, it is not possible to display a moving average of a 5-minute chart on an hourly chart. On the other hand, there is no problem when the moving average line of the 1-hour chart is displayed on the 5-minute chart. Please keep this point in mind when using this indicator.
- TimeFrame - The timeframe of moving average.If this is "H1", then a moving average of H1 timeframe will be shown on the current chart.
- MAPeriod - The period used for MA calculation
- ma_shift - The shift used for MA calculation
- ma_method - The method used for MA calculation
- applied_price - The price used for MA calculation
Download the "MTF_Moving Average" indicator for free from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.