Most profitableindicators in MetaTrader 4

MetaTrader 4 is a trading software that has been very popular since its inception. It is used by almost 10 million users and is also very popular due to the many trading tools it offers, especially in regards to technical indicators. What MetaTrader 4 indicators to use when trading? This is what we will try to show you in the next article, as well as present the best MetaTrader 4 indicators to use when trading Forex.

What is a technical indicator?

When working with forex brokers, it is important to always keep an eye on changes in future market trends, prices, movements, as well as the behavior of traders. To do this, it is useful to master different methods of market analysis, one of which is technical analysis that interests us today; and which also provides an opportunity to examine past data and thus predict future market behavior.

List of MetaTrader 4 indicators.

First we will mention the MetaTrader 4 indicators for use in trading, which are also the most popular, namely:

Bollinger bands, moving average, ATR, MACD, RSI, ADX, Alligator, various oscillators, Ichimoku, fractal, parabolic SAR, stochastic, volumes, momentum Here is also the ranking of the best Metatrader 4 indicators by the number of traders: MACD, Stochastic, RSI, William %R, ADX, Moving Average, Bollinger Bands, Momentum.

How to install forex indicators on the MetaTrader 4 platform?

The MetaTrader 4 trading platform consists of a variety of standard indicators, as well as custom indicators, to install them, you just need to do the following:

Copy the custom indicator. Be sure to open the data folder. Then copy your indicator to the appropriate MetaTrader 4 platform folder. Be sure to restart the platform and voila, you should be able to find the custom indicator in the custom indicators section of the MT4 platform.

How to add indicators to the chart in MetaTrader 4?

Adding indicators to a MetaTrader 4 chart is very simple, all you need to do is: Left click. Then drag the indicator out of the MT4 browser frame and place it on the chart. Now all you have to do is release your mouse and your indicator will be in place.

The most effective indicators for beginners

Now we are going to introduce you to the best Metatrader 4 indicators to use in Forex trading that will make your technical analysis much easier:

MACD indicator

The MACD indicator is a MetaTrader 4 trend indicator, in other words, an indicator that allows you to spot a trend.

The MACD is used by many traders, especially beginners, and is also considered one of the best stock market indicators.

There are three ways that allow you to interpret the MACD and they are as follows:

The first method is what is called a crossover, so when the MACD is below the signal line, it represents a bearish signal, so the trader can sell the asset. Conversely, when the MACD is above the signal line, the trend is to buy the asset. There is also a second method, which is called "divergence". This is when the MACD indicates the boundary of the current trend when the stock price diverges. As for the third and final method called "Dramatic Rise", which occurs when the MACD rises sharply, indicating an "overbought" trend.

Money Flow Index indicator.

The Money Flow Index indicator is what is called a momentum indicator that uses the instrument's price as well as volume in its analysis, which then allows it to predict if the current trend is reliable.

To use the cash flow index indicator, you first need to know the typical price, which is calculated according to the rule "highest + lowest + closing price / 3", You will then need to further calculate the original cash flow as follows: "Volume x Typical Price". To ultimately calculate cash flow, you must follow this rule: “Positive cash flow over 14 periods divided by negative cash flow over 14 periods.

Metatrader 4 indicator: Balance volume.

The On Balance Volume MT4 indicator is used to measure the negative and positive volume movement of a stock in relation to its price over time.

It is mainly used in capital markets in Forex indicators as well as in stock market indicators as it can also be used in cryptocurrency given its high volatility. In addition, MT4 is especially popular among home traders.

Accumulation/Distribution Indicator MT4.

The accumulation/distribution indicator or the A/D indicator is most often used to determine the flow of money in the stock market, taking into account two important points: the trading range, as well as the volume of the latter over a period of time.

The principle of the accumulation/distribution indicator is to identify discrepancies in prices and volumes and thus provide a favorable warning of future price movements.

How to use the most popular MetaTrader 4 indicators?

MetaTrader 4 technical indicators are very useful for successful technical analysis, which is also very important in online trading.

The MT4 trading platform has a large number of indicators that are used in technical analysis and they are free. But the MetaTrader 4 platform has a large number of indicators, so the choice can be difficult. Above we have discussed the best MT4 indicators to use in forex. To help you further in your choice, in this section we will explain how to use the most popular MT4 indicators. Also, you should know that using them in MT4 is relatively easy.

Use the Ichimoku indicator.

To activate the Ichimoku indicator, you will have to go to the platform on the left and click on the indicators folder, then you must click on the "trend or trend" folder and find the Ichimoku indicator. Then you will see the table displayed and you will only have to go to the table settings by changing the Tenkan-sen, Kijun-sen, Senku span-B values ​​among others. Activation of the Bollinger Bands indicator.

Activation of the Bollinger Bands indicator is done in the same way as for the Ichimoku indicator, which we indicated above. Therefore, you will only have to go to the left folder of the platform, which is called "indicators folder", then you should select the indicator in the "Trends" folder and double click on it, and then set it next to the displayed table.

How to enable the moving average indicator.

For this indicator, which is also a moving average, the activation manipulation of the latter is the same as for the last two. This indicator is also a trend indicator. Turn on the CCI indicator.

To activate the CCI indicator, you proceed in the same way by going to the "indicators folder" on the left side of the platform screen. Except that this time you will find the CCI indicator in the Example folder, where you will find a long list in alphabetical order, you will only have to find the CCI indicator and double click on it.

Then you will see the activation window, just don't forget to check the box "permission to change signal parameters" so you can check the CCI indicator you will see at the bottom of the chart.