Forex indicator mql4

Of all financial markets out there, currency market is the largest. And trading in it is very popular. It is an “over the counter” trade. But not literally; what it means is that trades happen instantaneously. But it happens via the internet. With the advent of online trading, Forex has now grown even bigger. As much as 5.3 trillion dollars are traded every day. Even in a changing environment, it manages such large trading volumes. That shows how powerful online trading is. And there is no trader who hasn’t heard of MT4. Meta Trader 4 is probably the most popular trading platform. And its Forex indicator mql4 is tremendously popular for trading.

Some Forex indicator mql4:

Now, this is not a single indicator. It is a collection of all indicators that work very well on MT4. In fact, these indicators are developed using the MQL4 language. And there are a few that have helped traders for a long time now. 

1.    MACD:

Now, this is a very popular indicator. It stands for moving average convergence divergence. This is a typical meta trader 4 indicators. It is rather a momentum indicator. It is one that follows market trends. 

A trader can interpret MACD in numerous ways. One way would be to see the crossovers. So when MACD goes under signal line, it’s selling time. That’s because that is a bearish signal. When it’s above signal line, it’s time to buy. That’s because it’s a bullish signal. 

2.    MFI: 

This stands for money flow index. What it does is it uses volume and price of an instrument. That’s how it predicts a trend’s reliability. It is one of the best Forex indicators mql4.
This method will need traders to know the typical instruments. So that means you need to know the formula of (Close + High + Low)/3. Now, this is a typical price. You then multiply this typical price with volume. That gives you the raw money flaw. After that, all you need is money flow ratio. Using that you can find money flow index. When MFI moves in an opposite direction to price, you see divergence. And that lets you trade well.

3.    AD Line:

This stands for accumulation and distribution line. It is a very common Forex indicator mql4 in MT4. This is quite similar to another indicator – on-balance volume indicator. It focuses on a range of trading for a time period rather than just closing price. Doing that allows it to be very accurate. And its use of money flow is probably much better than on-balance volume.

Concluding the facts:

So when you see that MT4 has these indicators, you know trading becomes simpler. Of course, all of these are programmed in MQL4. That’s why they work so well on Meta Trader 4. But in case none of these suit your trading style, you can customize your own indicators. Yes, Meta Trader allows you that opportunity too. But that is not required most of the time. That’s because a Forex indicator mql4 is very useful to traders.

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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