Introduction to the FATL PlusBack Indicator
The FATL PlusBack Indicator is a custom forex trading tool based on three moving averages.
Simply look for buy trades when the orange and green lines are above the red line. Similarly, look for sell trades when the orange and green lines are below the red line.
It fits all kinds of timeframes and currency pairs.
The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the FATL PlusBack indicator in MT4?
Copy and paste the fatl-plusback-indicator.mq4 or fatl-plusback-indicator.ex4 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, that 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.
Click the link below:
The FATL PlusBack indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.