Introduction to the AggM Indicator
The AggM Indicator is a composite trend and mean-reversion indicator, but the signals are provided in the form of an oscillator line. When it comes to the trading rules with the AggM indicator, it looks like the following. Long trades are triggered when the indicator’s value rises above 0.7 level. Similarly, sell trades occur when these values drop below 0.2 level.
The AggM Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
Example trade with the AggM Indicator
Below is the screenshot of an example trade with the AggM Indicator.
This is an example of a reversal trade. On the left side of the chart, values drop below 0.2 level but the price did not drop much. Then a reversal happens and a buy trade is placed when the readings of the AggM Indicator exceeds 0.7 level for the first time.
How to set up the AggM indicator in MetaTrader (MT4)?
Installation Guide
Download the AggM.rar archive at the bottom of this post, unpack it, then copy and paste the AggM.ex4 or AggM.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
Bottom Line
The AggM indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 AggM Indicator
To download the AggM Indicator for Metatrader 4 (MT4) for free just click the button below:
