Free Metatrader 4 indicators
Metatrader 4 is a modern trading platform that allows the development and use of its own technical indicators thanks to the use of the MQL4 programming language, which is quite easy to learn. Any trader with some programming experience can design their own indicators in a short time. Even traders without programming knowledge can learn to use MQL4 in a few days if they have a good manual.
The customized technical indicators in Metatrader 4 should not be confused with Expert Advisors, since they do not perform any automated trade in the market, they only serve as a means to support our analysis of market conditions.
In this section, we include a collection of technical indicators designed by expert traders which are based on all types of trading systems and traditional technical indicators. In some of these indicators, we will give a small explanation of how they work and what they consist of.
List of free MT4 Forex indicators
- VIDYA Moving Average Indicator for MT4
In this article we are going to present a custom indicator for Metatrader 4 that is designed to display a VIDYA adaptive moving average overlaid on the price action on the price charts. This indicator can be modified to calculate the moving average with different price types (closing price, opening … Read more - RSI Signals Indicator for Metatrader 4
In this article, we present a custom dashboard indicator for Metatrader 4, called RSI Signals, which displays multiple signals from the RSI indicator on different instruments and time frames. It is a free custom indicator where the trader can select the currency pairs and time frames they want to view. … Read more - KAMA Adaptive Moving Average Indicator for Metatrader 4
In this article we present a modified indicator for Metatrader 4 designed to plot the KAMA Adaptive Moving Average on any price chart of this platform. It can be modified to show the moving average with different types of prices, such as the closing price, the opening price or the … Read more - Indicator of Balance of Forces Between Buyers and Sellers in All Time Frames for MT4
In this article we are going to explain a modified indicator for Metatrader 4, which measures the balance of forces between buyers and sellers for each time frame, from M1 to D1, in the form of red and green histograms. This indicator is called Strength Candles, and for each time … Read more - Renko Chart Indicator for Metatrader 4
The MT4 platform is undoubtedly one of the most popular trading platforms among retail traders who regularly trade Forex, CFDs, and precious metals. Despite the popularity and numerous reviews of the MT4 platform, there has been little to no improvement when it comes to including other types of charts. In … Read more - Kagi Chart Indicator for Metatrader 4
Kagi Charts for MT4 In this article, we present a modified technical indicator for Metatrader 4 that allows displaying Kagi charts on the regular price charts of this platform. Therefore, it allows traders to correct the deficiency that Metatrader presents in terms of less common types of charts such as … Read more - 1-2-3 Patterns Indicator for Metatrader 4
The 1-2-3 pattern is a classic trend reversal price formation that occurs in all markets and can be observed in any time frame. It has stood the test of time thanks to its reliability, which is high compared to other chart price patterns. In fact, many trading strategies today are … Read more - Three Line Break Indicator for Metatrader 4Three Line Break charts were invented in Japan and are similar to Renko and Point & Figure charts. One trader from Japan described Three Line Break charts as a “more subtle form of Point & Figures charts, where reversals of price direction are decided by the market and not by … Read more
- Free Scalping Indicator for Metatrader 4
Introduction Scalping is a very popular trading style because it allows obtaining multiple profits with short-term trades and can be used in practically any asset and financial instrument. Likewise, it does not require a deep knowledge of fundamental analysis (although it is always convenient to take these events into account) … Read more - Free QQE Indicator for Metatrader 4
In this article we are going to present a technical indicator designed for the Metatrader 4 platform which displays the QQE (Quantitative Qualitative Estimation) indicator below the price chart of any trading instrument that we are analyzing, be it a currency pair, a precious metal, an index or a stock. … Read more - Modified Indicator Forexorama – MACD For MT4
The Forexoma-MACD is a modified indicator designed for the Metatrader 4 platform which is based on the MACD technical indicator. It was designed to be easier to read for the trader, as standard MACD signals can be somewhat complex for the beginner trader. In addition, it is designed to detect … Read more - Mcginley Dynamic Indicator For Metatrader 4
The Mcginley Dynamic Forex indicator for the Metatrader 4 platform is an indicator based on moving averages that have a smoothing factor to reduce false signals. Its trading signals are very simple: If the price action is above the Mcginley indicator: look for possible buy signals. If the price action … Read more
