Introduction to the MA Momentum Arrows Indicator
The MA Momentum Arrows indicator is based on the MA (Moving Average) applied to the Momentum indicator.
It draws arrows at the confirmed crosses of the Momentum line over the MA line. When the Momentum crosses upwards, then a buy arrow is displayed and vice versa. The arrows do not repaint since the indicator only uses confirmed values and waits for the candle to close before painting an arrow.
The indicator is displayed directly on the main trading chart.
It fits all kinds of timeframes and currency pairs.
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.
Check also: Vulkan Profit
How to set up the MA Momentum Arrows indicator in MT4?
Copy and paste the MA Momentum Arrows.ex4 or MA Momentum Arrows.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, 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.
The MA Momentum Arrows 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.
MA Momentum Arrows Indicator Free Download
To download the MA Momentum Arrows Indicator for Metatrader 4 (MT4) for free just click the button below: