Moving Average Strength Indicator (MT4) - Free Download - Best Forex Indicators

Introduction to the Moving Average Strength Indicator

The Moving Average Strength Indicator is a multifunctional forex trading gauge, based on the Moving Average, MACD, and Stochastic. You should choose short period of MA if you prefer using it for scalping, and long period if you it to be suitable for trend-following and swing trading.

The Moving Average Strength Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on 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.

Anatomy of the Moving Average Strength Indicator

The signals provided by the Moving Average Strength Indicator are presented in the form of histogram bars. When their value raises above the zero level, it means a bullish trend is considered. Conversely, negative values indicate bearish momentum. In other words, you should look for buy opportunities when the Moving Average Strength value is positive and spot for short opportunities whenever the value turns negative.

These are customizable inputs in the settings window:

Moving Average Strength Indicator: Buy Signal

Follow these steps for a long trade:

The market is clearly in uptrend (take a look from left to right)
There was an correction and indicator values fell to oversold level
The correction exhausted and indicator values turnes positive again
Buy trade is now triggered
Set stop loss a few pips below the most recent market low
Take profit after reaching satisfying risk to reward ratio

Moving Average Strength Indicator: Sell Signal

Follow these steps for a short trade:

The market is clearly in downtrend (take a look from left to right)
There was an correction and indicator values rised to overbought level
The correction exhausted and indicator values turnes negative again
Sell trade is now triggered
Set stop loss a few pips above the most recent market high
Take profit after reaching satisfying risk to reward ratio

How to set up the Moving Average Strength indicator in MetaTrader (MT4)?

Installation Guide

Download the Moving Average Strength.rar archive at the bottom of this post, unpack it, then copy and paste the Moving Average Strength.ex4 or Moving Average Strength.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 Moving Average Strength 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.