Moving Average Candlesticks Forex MetaTrader indicator — is a chart visualization of a standard moving average indicator using the candlestick bars. It draws the chart candlesticks based on average moving values calculated for Close, Open, Low, and High. It allows a compact snapshot of the more detailed market information compared with the classic MA forex indicator. It works with any mt4 currency pair, timeframe, and MA mode. The forex indicator is available for MT4 and MT5.
Input parameters
- MAPeriod (default = 10) — the moving average period used in the calculations.
- MAType (main default = MODE_SMA) — the method of the moving average.
This indicator isn’t a perfect one to use for direct trading. It simply indicates the moving average(MA) cross and some other parameters of the mt4 chart. Use it to spot the irregularities in the chart price behavior by observing the chart candlestick bodies’ length and the shadows. The change of candle color might seem like a nice trade entry signal, but it will also give a lot of fake entry signals.
