Likewise, when the 5-period MA goes above the price action and crosses the 10-period MA, it is a sell signal for us. The strategy is this when the 5-period MA goes below the price action and crosses the 10-period MA, it is an indication of a buy signal. In this strategy, we have paired the 5-period colored average with 10-period colored average to identify the trading signals.

This is a very basic yet effective strategy to trade the lower timeframes. Intraday Trading By Using The Double Colored MA Indicator For MT4 Only then the strategy will be effective once the price moves into a consolidation phase, this indicator becomes inefficient. Any strategy we make using this indicator must be applied in trending markets only. Width - 2 Trading Strategies Using The Colored MA Indicator For MT4Ĭolored MA Indicator For MT4 works just like a moving average, but it changes its color according to market circumstances. You can modify them according to your trading preference. Parametersīelow are the default settings of the indicator. Besides, it works very well on all the trading timeframes, and it generates wonderful signals on all the currency pairs. Colored MA Indicator For MT4 can be used by all types of traders, but novice traders admired it more because of its easy to use nature. It is a profitable indicator, but we recommend you to focus on the price action as well and trade the market with the trend. Conversely, it turns red when prices start to close below the MA, and that indicates a bearish trend in the market. This indicator turns green when the prices keep closing above the indicator.

By default, Colored MA Indicator For MT4 uses the 12-day period moving average on the price chart. In an uptrend, it turns Green, and in a downtrend, it turns Red. By default, this indicator draws the Moving Average with a specific period by marking different color movements. On a higher timeframe, if you use a higher number of periods, it acts as dynamic support/resistance to price action. On lower and higher timeframes, it identifies the major trend and provides us entry and exit signals. Traders can use this indicator in so many different ways. As the name suggests, it is the modified version of the famous Moving Average.

RSI Indicator + Colored MA Indicator For MT4Ĭolored MA Indicator For MT4 is one of the simplest yet powerful indicators in the market.

Intraday Trading By Using The Double Colored MA Indicator For MT4.

Trading Strategies Using The Colored MA Indicator For MT4.

Introduction To Colored MA Indicator For MT4.

Introduction To Colored MA Indicator For MT4

Colored rsi with alert indicator mt4