iMACol Indicator
Platform: MT4 Type: Trend Last update: September 21, 2024The iMACol Indicator for MT4 is a simple trend-following gauge, that works great in the trending market conditions. Basically, it is a moving average that changes color depending on a current buy/sell signal. We recommend using it on larger timeframes because usually, they tend to show less noise.
Simplified trading rules are the following:
- Open a long position on the first closed candle after the signal changes color to blue.
- Conversely, open a short position on the first closed candle after the signal changes color to red.
- Close position on the first closed candle after the signal line changes color to yellow.
Example trade with the iMACol Indicator
Below is the chart showcasing an example long position.
As you can see, on the left side of the chart, the iMACol indicator was red and the price was falling. Later on, the trend sentiment changed and the moving average color switched to blue. Afterwards, the price started to rise.
