What is the best trading indicator in the world? While this is a very simple question, the answer may surprise you. It all depends on your trading needs and trading style. Through this guide we’re going to outline a free trading indicator that our team has been using to make smart trading decisions.
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The Free MT4 indicator is a MA crossover strategy that we produced and all it does is to shoot out an alert plus a notification when a moving average cross happens. Learn more about this powerful tool here:
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There are many MT4 indicators that can help you achieve your Forex trading success. Some traders recommend using the stochastic indicator, RSI indicator, MACD indicator, Bollinger Bands etc. However, you don’t need these technical indicators to make money in the Forex market.
Any trader that tries to use a combination of the above mentioned MT4 best indicators to develop the “holy grail” that never loses money will soon get a big awakening call. The trading strategies and indicators that you will find on our website will not only help you be successful, but also, allow you to grow at your own pace as a trader.
Our mission is to simplify trading strategies by giving the trader a detailed plan with step-by-step rules to follow.
Free Trading Indicator
The best trading indicator will reveal how to get notified when any moving averages cross happens! This indicator itself is very simple. The only real reason why we developed the Free MT4 indicator for you was to give you an option to get alerted when moving averages cross each other.
The best trading indicator is a convenient way to get notified when any two moving averages crosses.
It’s very handy to have alerts available when a moving average crossover happens instead of steering the charts all day long. You don’t just save a lot of time but you also won’t be missing anymore when a MA crossover develops on your favorite currency pair.
Let’s now move forward and outline a step by step installation guide that you can use to basically install any MT4 custom indicator.
Free MT4 Indicator – Installation Guide
We’re going to briefly cover the installation of any MT4 custom indicators on the MetaTrader4 (MT4) platform and last but not least how to use our own proprietary MA crossover indicator. An important feature of this tutorial is that it will help you with the installation of any MT4 indicator.
Simply follow the instructions to complete the installation process, then after a short restart the MT4 custom indicator will be ready to use on your trading platform.
Step #1: Locate the Installation Folder
The first step you need to undertake is to locate the destination folder were the best free MT4 indicator must be copied. Usually, the MT4 platform is installed in a common location on your C driver.
Once you click on the MT4 indicator download button above make sure you locate first the MT4 indicator file. Check your Downloads folder for that:
The MT4 files are stored in a hidden folder that can be accessed directly from the MT4 trading platform.
In order to install the Moving Average Cross indicator go directly to your MT4 platform ‐‐> File ‐‐> Open Data Folder.
See figure below:
Step #2: Copy – Paste the Free trading indicator in the Indicators folder
The second step to complete the installation folder is to copy – paste the MT4 indicator in the Indicators folder.
Simply go inside the MQL4 folder and then click on the Indicators folder and copy – paste your MT4 indicators collection.
Once the installation process is completed, you need to restart the MT4 platform in order for our indicators to be viewable on the MT4 platform.
Note* It’s important to always restart the MT4 platform after installing an indicator.
Step #3: How to Run an Indicator in MataTrader4
After you have installed the Free MT4 indicator then this will be available for your own use in the MT4 indicators library inside the Navigator window on your MT4 platform.
See figure below:
To activate the Moving Average cross indicator all you have to do is to simply drag and drop the indicator on a price chart. This is the simplest way to run an indicator on the MetaTrader4 platform. However, you also have different ways to activate your indicator.
In order to locate the Navigator Window, go to Menu‐‐>View‐‐>Navigator, or you can always use the keyboard shortcut CTRL+N. Once you have located the MA cross indicator do a right‐click on the indicator in the Navigator Window and select “Attach to a chart.”
See figure below:
Once the indicator is attached to the chart you will be able to see the name of your MT4 custom indicator or the logo at the top right‐hand side of the chart.
See figure below:
How to Use Moving Average Cross Indicator
In order to get the best free MT4 indicator working, when you attach the indicator on the price chart, a box will pop‐up with a number of different tabs across the top. Make sure that the Inputs tab is selected.
See figure below:
The indicator comes with the following default settings: the first moving average set at 8 Exponential and the second being a 20 periods Simple Moving Average. This is just to show you that you can use either type of moving average.
Note: an important feature of the Moving Average Cross indicator is that you have the ability to hide the moving averages and entry arrows as well in case you are just interested in alerts.
The main purpose of this indicator was to give you the ability to be alerted when any two moving averages cross.
The alert will look something similar with the figure below:
When the first moving average you set crosses the second moving average you set you get this alert. It is important to set the smaller of the two moving averages first.
Here is an example:
This will assure that the signal shows correctly as “buy” or “sell” and the alert will also be correct.
The GREEN and the RED arrows signal when the Moving average cross happens. When the smaller MA line crosses above the bigger MA line a GREEN arrow will show up and respectively a signal to buy.
Conversely, when the smaller MA line crosses below the bigger MA line a RED arrow will show up and respectively a signal to sell.
Note: You may also set up notifications! This will notify you on your Meta Trader app that you install on your iphone or android phone.
Make sure you have enable push notifications checkbox selected and also in the indicator settings the notifications tab needs to be set as true
Conclusion – Best Trading Indicator
The best trading indicator is a tool which was built to help those types of traders who don’t have the necessary time to watch the market until a moving average cross happens. Setting up moving average crossover alert can be very handy for the traders with a 9 to 5 job.
The Free MT4 indicator offers many trading alerts both to your mobile phone and your trading platform. It has been developed to work on Meta Trader 4, Meta Trader 5, and Tradingview.
Feel free to use any two Moving Averages! We developed many moving average trading strategies so if you are unsure of what two to choose go check this strategy out now and apply these to your indicator!
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