Anchored Momentum Indicator (MT4) - Free Download - Best Forex Indicators

Introduction to the Anchored Momentum Indicator

The Anchored Momentum Indicator is a forex oscillator providing short and medium-term trend bias and dominating market direction. You should consider that gauge as a good supplier for your strategy, but it rather should not be used as a standalone trading tool.

The Anchored Momentum 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.

Closer look on the Anchored Momentum Indicator

The 0.00 level is a neutral level that defines trend bias. The blue oscillator line above the 0.00 level suggests a positive trend bias, while below the 0.00 level, a negative one. You should also pay attention to the slope of the oscillator line – when it’s leaning, the momentum is strong. Conversely, when the slop is more flat, it’s probably getting exhausted.

Buy Signal

A potential buy trade occurs when the blue line crosses above the level 0. For trade confirmation, we suggest using it with some other technical analysis tool. Take a look at the long trade plain example:

Sell Signal

A potential sell trade occurs when the blue line crosses below the level 0. For trade confirmation, we suggest using it with some other technical analysis tool. Take a look at the short trade plain example:

How to set up the Anchored Momentum indicator in MetaTrader (MT4)?

Installation Guide

Download the Anchored Momentum.rar archive at the bottom of this post, unpack it, then copy and paste the Anchored Momentum.ex4 or Anchored Momentum.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.

Summary Of That Forex Indicator

The Anchored Momentum 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.