MT4-EA-Indicators

FRAMA Moving Average Indicator For Metatrader 4

by

The Fractal Adaptive Moving Average (FRAMA) is a technical indicator developed by John Eulers. It is not as well known as the simple moving average (SMA) and other common types of moving averages, but it does have some interesting features.

This moving average is constructed based on the EMA (Exponential Moving Average) algorithm, in such a way that the smoothing factor is calculated based on the current fractal dimension of the price series. The advantage of FRAMA over other moving averages is that it can follow strong trend movements but at the same time is able to react more slowly in periods of market consolidation.

All types of analysis with moving averages can be used with this indicator. Additionally, the FRAMA moving average can be used in the same trading strategies that traditional moving averages are normally used, including strategies based on moving average crossovers.

Read more

Forex Market Session Indicator for Metatrader 4

by

In this article, we are going to present an indicator for Metatrader 4 designed to show the main sessions of the Forex market in the price charts of the markets we are analyzing. Basically, it shows the beginning and end of each of the most important market sessions and the periods when they overlap. Graphically, this indicator displays the following trading sessions:

  • American market session
  • European/UK Market Session
  • Asian Market Session
  • The periods in which two sessions overlap each other (usually they are periods of high activity in the markets).

Read more

Know Sure Thing (KST) indicator for Metatrader 4

by

In this article, we are going to present a modified indicator for Metatrader 4 which shows the technical indicator KST (Know Sure Thing) in a window below the main price chart and in any time frame. We include this indicator for free download at the end of the article.

Before explaining how works this indicator for MT4, let’s talk a little about the generalities of the KST.

Read more

ZUP Harmonic Pattern Indicator for MT4

by

In this article, we will present a modified indicator for Metatrader 4 designed to show harmonic price patterns in any price chart and in any time frame. It is not an official MT4 indicator.

Harmonic price patterns elevate geometric price formations to the next level through the use of Fibonacci numbers to define precise market inflection points. Unlike other trading methods used to trade in Forex and other markets, harmonic trading attempts to predict future price movements.

Harmonic trading can be defined as a trading methodology based on the recognition of specific price patterns and the alignment of exact Fibonacci ratios to find possible high probability trend change levels in the markets. This approach assumes that the patterns or cycles in markets, such as many patterns and cycles in life, tend to be repeated on a regular basis.

Read more

Wolfe Waves Indicator for Metatrader 4

by

In this article, we present a modified indicator for Metatrader 4 that shows Wolfe wave patterns in price charts and in any time frame. This tool can be very useful since it automatically identifies these price formations and saves the time and work it takes to be watching many price charts for hours looking for these and other patterns.

As every experienced trader knows, the biggest problem with price patterns, especially with advanced ones such as Wolfe waves, is the identification of these formations in the chart. This task not only requires skill and experience to visually find these patterns, but also the trader has to spend hours in front of the computer, without any guarantee that he will find a good opportunity. In addition, only rarely is it possible to observe these patterns in their ideal form, they almost always present with some small variations that further complicate the identification.

Therefore, resources such as this custom indicator are very useful as they significantly facilitate the work of the trader.

Read more

Candlestick Patterns Indicator for Metatrader 4

by

This is an indicator for candlestick charts designed for Metatrader 4 which is based on the recognition of various types of patterns commonly used by many traders to open and close positions in the market. As you know, the Japanese candles usually form easily recognizable chart patterns which are indicative of possible future price behavior in the form of drops, rises, a continuation of the current trend, and trend changes. Logically, these patterns do not have a 100% percent reliable, but in some cases, this is quite high.

Logically, these patterns are not 100% reliable so sometimes produce false signals but are usually quite accurate. The problem is that it takes hours of practice and dedication to analyze price charts to detect these patterns, therefore only the most experienced traders effectively dominate its use to open and close positions in the market. That’s where this indicator is useful because it identifies 10 major candlestick patterns both in bullish and bearish trends and other minor patterns that often occur with some regularity. The result is that the trader can take advantage of any interesting opportunity such as a possible trend change indicated by one of these chart patterns.

Read more

Keltner Channel Indicator for Metatrader

by

Indicator Parameters MA_Period (normal value = 10): It is the moving average period corresponding to the midline. Mode_MA (normal value = MODE_SMA): This mode is the moving average corresponding to the midline. Price_Type (normal value = PRICE_TYPICAL): The type of price used in calculating the moving average corresponding to the midline.     The custom indicator Keltner Channel for Metatrader … Read more

Vortex indicator for Metatrader 4

by

In this article we present a version of the Vortex technical indicator developed for the Metatrader 4 trading platform, which can be downloaded and used at no cost. This indicator, although not as well known as other technical analysis tools such as MACD or RSI, can be a useful tool, especially if it is combined with other indicators. In fact, there are different trading systems that incorporate the Vortex and that we will describe later. For now, we will focus on providing a short introduction about this indicator and its trading signals and then we will talk specifically about the Vortex indicator for MT4 and its main features.

Read more

Forex Intraday Trading System ProEMAGain

by

This Forex intraday system is based, mainly, on an interesting custom indicator for Metatrader 4 called ProEMAGain. This indicator consists of three exponential moving averages (EMA), and an RSI indicator. These indicators are common tools for the analysis of the Forex market, but here they are combined, originating a very profitable system. This combination gives the right and necessary information, in addition to being visually effective, to make decisions quickly and correctly.

It is recommended to trade with this trading strategy only in the major currency pairs: EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, and NZD/USD.

Read more

+ More