Moving average crossovers are one of the most used trading signals in technical analysis systems to determine the trend direction and possible changes in the direction of the market.
Many trading systems base their buy and sell signals on long and short-term moving average crossovers of different types (SMA, EMA, etc.) in combination with other technical tools.
Therefore, here is a modified technical indicator for Metatrader 4 that shows moving average crossovers on different instruments (markets) and timeframes selected by the trader through a dashboard displayed on the price chart.
Using this indicator, the trader can detect crossovers between two different moving averages in multiple markets simultaneously without the need to have several price charts open at the same time.
It also indicates moving average crossovers on the current price chart by different colored bullish and bearish arrows that can be configured.
The following image shows the indicator in action with the MA crossover board and arrows indicating where the crossovers have occurred on the current price chart:
In addition to the dashboard with buy and sell signals, the indicator also offers the option to display an alert window when a bullish or bearish crossover occurs in one of the selected instruments or timeframes, as can be seen in the following image:
Regarding the options offered by the signal dashboard, the trader can add any currency pair and instrument offered by the broker and all the time frames of Metatrader 4, from 1 minute to the monthly frame.
The indicator is quite straightforward and easy to configure. It allows to detect crossings of 4 different types of moving averages (Simple, Exponential, Smoothed and Weighted Linear) based on various types of prices (Close, Open, High, Low, Median, Typical and Weighted).
It also allows the trader to decide whether he wants the indicator to display crossovers as soon as they occur (on the same signal candlestick) or after the next candlestick after the signal opens as confirmation.
The trader also has the ability to set the indicator so that the moving average crossovers are confirmed by the ADX oscillator, a trend strength indicator.
Moving Average Crossover Dashboard Indicator Setup
The following image shows the indicator configuration window:
The configuration parameters of the indicator are the following:
- Moving Average Type For MA1 (Minor): It is the moving average type of the short-term MA.
- Moving Average Type For MA2 (Major): It is the moving average type of the long-term MA.
- Moving Average Period 1 (Lower): It is the calculation period of the short-term MA.
- Moving Average Period 2 (Highest): It is the calculation period of the long-term MA.
- Price applied in the calculation of MA1: It is the price type applied in the calculation of the short-term MA (Close, Open, High, Low, Typical, Median, or Weighted).
- Price applied in the calculation of MA2: It is the price type applied in the calculation of the long-term MA (Close, Open, High, Low, Typical, Median, or Weighted).
- Show Dashboard of MA Crossovers: With this parameter, we can indicate whether or not we want to display the signals dashboard.
- List of Markets: Here the trader indicates the markets or currency pairs in which the indicator should detect MA crossovers. You can add as many pairs as the broker offers on the platform. By default, the indicator shows EURUSD, GBPUSD, USDJPY, and AUDUSD pairs.
- List of Time Frames: In this parameter, we can indicate in which time frames we want to detect MA crosses for each currency pair. We can aggregate all the time frames that MT4 offers. By default, the indicator displays M5, M15, M30, H1, H4, D1 and W1 timeframes.
- Bearish crossover color: It allows us to indicate the color for MA bearish crossovers.
- Bullish crossover color: It allows us to indicate the color for MA bullish crossovers
- Moving Average Crossover Alerts: This option allows us to indicate if we want the indicator to show an alert window
- MA Crossover Confirmation with Next Candlestick: With this option, we can indicate if we want the moving average crossovers to be confirmed by the next candlestick.
- Confirmation with ADX Signals: To have more reliable signals this parameter allows us to indicate if we want MA crosses to be confirmed by the ADX trend strength indicator (ADX>25).
By themselves, moving average crossovers should not be used as the only trading signals for opening and closing positions, since like any other technical tool they have false signals. Strategies using moving average crossovers usually also include various filters to increase the reliability of the signals.
It is best to use them in conjunction with other market analysis tools, as part of a well-designed and tested trading strategy.
How can we acquire the MA Crossover Dashboard for MT4?
This modified technical indicator was developed by Forexdominion experts and can be purchased through the MQL5 market for $45 via the following link:
We chose the MQL5 market as it is a safe option for both the buyer and the seller. It facilitates the purchase process and avoids any type of fraud. It ensures that the product is delivered quickly and safely once payment is received.
In addition, in MQL5 it is possible to download a limited-time trial demo version that allows the user to check if the product suits his needs.
Are you interested in developing a custom technical indicator or Expert Advisor for MT4 or MT5?
If you are interested in developing a custom indicator or EA based on your own trading strategy or idea but don’t have the time or knowledge to do it on your own, we can get the job done for you in no time and at the best prices.
You can contact us through: firstname.lastname@example.org.