Unlocking Trading Success: 16 Essential Indicators for MetaTrader 4

Mike 2010.05.05 22:36 82 0 0
Attachments

Author: Damien

Visit my blog for more insights!

1. Price Indicator

This powerful tool is composed of candles and comes equipped with:

  • Parabolic SAR
  • Bollinger Bands
  • 4 Moving Averages

You have the flexibility to activate or deactivate each indicator using a simple true/false option. For the moving averages, you’ll need to specify your preferences in uppercase. Here are the options you can choose from:

  • CLOSE
  • HIGH
  • LOW
  • OPEN
  • TYPICAL
  • MEDIAN
  • WEIGHTED

When selecting the moving average style, also note your preferences in uppercase:

  • EMA
  • SMA
  • SMOOTH
  • LWMA

Indicators in a Separate Window

  • CCI (Commodity Channel Index)
  • RSI (Relative Strength Index)
  • Standard Deviation (STDEV)
  • MACD (Moving Average Convergence Divergence)
  • Stochastic (STO)
  • Bull (BULL)
  • Bear (BEAR)
  • On-Balance Volume (OBV)
  • Momentum (MOM)
  • Awesome Oscillator (AO)
  • Accumulation/Distribution (AC)
  • Money Flow Index (MFI)
  • Average True Range (ATR)
  • OSMA (Moving Average of Oscillator)
  • ADX (Average Directional Index)
  • Force Index (FORCE)

You can choose the type of price used for calculating the indicators and the type of moving averages, just like with the price indicator. Your preferences should be noted in the same manner.

Additionally, you can select the style of the indicator under the "style" section, where three options are available. Make sure to specify your choice in uppercase:

  • HISTOGRAM = HISTO
  • LINE = LINE
  • DOT = POINT

If my explanations seem a bit unclear, I apologize—this is an automatic translation, and I’m doing my best to share my knowledge with you!

Happy testing and successful trading! :)

List
Comments 0