RoNz Price MA Candle Forex Indicator (MT4) - Free Download - Best Forex Indicators

Introduction to the RoNz Price MA Candle Forex Indicator

The RoNz Price MA Candle Forex Indicator uses Moving Average to colorize candlesticks according to MA direction. White candles indicate bullish MA, and red candles reflect bearish MA. That forex indicator should be rather used in conjunction with other technical analysis gauges, than a standalone trading tool.

The RoNz Price MA Candle Forex 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.

RoNz Price MA Candle Forex Indicator: Buy Signal

Price crosses or already is above 100-period Exponential Moving Average
RoNZ candlesticks are white
Set your stop loss a few pips under the most recent low swing of the market
Take profit when a canadlestick turns red

RoNz Price MA Candle Forex Indicator: Sell Signal

Price crosses or already is below 100-period Exponential Moving Average
RoNZ candlesticks are red
Set your stop loss a few pips above the most recent high swing of the market
Take profit when a canadlestick turns white

How to set up the RoNz Price MA Candle Forex indicator in MetaTrader (MT4)?

Installation Guide

Download the RoNz Price MA Candle.rar archive at the bottom of this post, unpack it, then copy and paste the RoNz Price MA Candle.ex4 or RoNz Price MA Candle.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.

Bottom Line

The RoNz Price MA Candle Forex 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.