The multi moving average forex indicator for MetaTrader4 is a technical study that displays the information about 4 Moving Averages on a separate window. The Multi Moving Average Indicator offers traders the ability to tweak the input parameters in the “Properties” window for any of the applied averages.
The Moving Averages that are represented starting from the top row includes Exponential Moving Average (13), Exponential Moving Average (34), Exponential Moving Average (55) and Exponential Moving Average (89).
The Multi Moving Average indicator offers a simple visual aid towards determining when to place a buy or sell as regards a currency pair. The indicator can also be placed on all timeframes. A bullish signal is established when all four rows forms a DeepSkyBlue colored dots, while a bearish trend is imminent when all four rows have red colored dots formed.
Basically, the choice of Exponential Moving Averages on varying periods is deployed to minimize lag by adding more weight to the current price. The number of periods in the moving average is dependent on the weighting applied to the most current price.
Exponential Moving Averages have been shown to have less lag, making them more sensitive to recent price changes. This in turn implies that the Multi Moving Average indicator can be used in combination with other indicators to measure the volatility of currency pairs and to confirm noteworthy market moves.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (MA1, MA1_Period, MA1_Mode, MA1_Price, MA2, MA2_Period, MA2_Mode, MA2_Price, MA3, MA3_Period, MA3_Mode, MA3_Price, MA4, MA4_Period, MA4_Mode, MA4_Price, Visual, Wingdings, Bar_Wingdings, Bar_Width, Bar_Color_Up, Bar_Color_Down, P1_Position, P2_Position, P3_Position, P4_Position, Gap, Set_Lbel, Show_Label, V_Label, V_Shift, H_Label, H_Shift, UP_DN, Text_Color_UP, Text_Color_Down), Colors, width & Style.
Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month