Free Forex Indicators (MT4), Trend Following Indicators

Moving Average Candlesticks

Moving Average Candlesticks is one of the simplest trend-following forex trading indicators you may have ever experienced. It is able to define the market trend plus trade entry signals and helps with the exits as well. Its easy features and simple chart demonstrations offer a great advantage for the newbie traders.

Moving Average Candlesticks is also known as a versatile trading tool because it can be applied to trade all kinds of forex currency pairs around the market. Besides, it fits with all sorts of timeframe charts within the MT4 trading platforms.

Moving Average Candlesticks Overview

Once you’re done with the installation of the Candlesticks at the MT4 terminal, your chart will appear like the following image:

Moving Average Candlesticks Overview

Moving Average Candlesticks Anatomy

Moving Average Candlesticks Anatomy

Moving Average Candlesticks works almost as like as another famous trend-based forex trading indicator “Heiken Ashi”. It plots its signaling bars around the price bars and works in a dual-color mode for signaling the trends and trades as well. It turns blue and the price keeps closing above its level signals for buy entry with the confirmation of bullish trends. Contrarily, It turns yellow and price closing below its level represents sell opportunities with the confirmation of the bearish trends. This indicator can also be added to other trend-following drawing trading strategies or indicators for enhancing the trading performances.

Trending Indicator: Trend Magic Indicator

Moving Average Candlesticks: Trade Conditions

Buy Entry

Moving Average Buy Entry

  • The Candlesticks turns blue
  • Price bars successfully close above the indicator level
  • Buy triggers when the above conditions are met
  • Set stop loss below the current swing low of the market
  • Exit long/take profit whenever price bars clearly close below the indicator level

Sell Entry

Moving Average Sell Entry

  • The Average Candlesticks turns yellow
  • Price bars successfully close below the indicator level
  • Sell triggers when the above conditions are met
  • Set stop loss above the current swing high of the market
  • Exit short/take profit whenever price bars clearly close above the indicator level

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I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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About Trend Following System

Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.
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