Free Forex Indicators (MT4), Trend Following Indicators

StepMA V7 Indicator

StepMA V7 tries to counter such issues and indicates the market trend with the best possible balance between the timing and accuracy of the signals. Trading using Moving Averages is fun and more relaxing than other complex trend indicators.

MAs are easily customizable and can be added to other indicators to form profitable trading strategies. However, MAs are not always correct in defining market trends because of lagging issues or early signals.

StepMA V7 can be applied to trade all kinds of forex currency pairs available in the financial markets. In addition, it suits all sorts of timeframe charts and can be mastered by traders with any level of experience.

StepMA V7 Indicator Overview

Download and install the indicator on your MT4 terminal. Once you’re done, your chart will appear like the following image:

StepMA V7 Indicator Overview

StepMA V7 Indicator Explanation

StepMA V7 has been developed with a composition of moving averages calculated based on the step-down method. This is why you’ll see the indicator doesn’t certainly change its position until price moves above or below a significant price level.

This is how the indicator solves its lagging issues and stresses more on signal accuracy. Other than that the indicator works in the same manner as moving averages.

StepMA V7 Explanation

Price manages to close above the StepMA level means the trend turns into bullish condition. On the other hand, the price closes below the StepMA level represents the bearish trend of the market.

StepMA V7: Buy Conditions

StepMA V7 Buy Parameters
  • Price moves above the current StepMA level
  • A bullish candle closes above the MA level at the same time
  • Buy triggers at the break of the respective bullish candle’s high
  • Set stop loss below the current swing low of the market
  • Exit long or take profit whenever price candle closes below the MA level

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StepMA V7: Sell Conditions

StepMA V7 Sell Parameters
  • Price moves below the current StepMA level
  • A bearish candle closes below the MA level at the same time
  • Sell triggers at the break of the respective bearish candle’s low
  • Set stop loss above the current swing high of the market
  • Exit short or take profit whenever price candle closes above the indicator level

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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