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 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
- 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
- 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