Multi Timeframe Triple Moving Averages Indicator For MT4
Table Of Contents:
- Multi Timeframe Triple Moving Averages Indicator For MT4
- Multi Timeframe Triple Moving Averages Indicator For MT4 Configuration
- Showing Values Of Multipe Time Frames
- Multi Timeframe Triple Moving Averages Indicator For MT4 Conclusion
The Multi Timeframe Triple Moving Averages Indicator For MT4 is a great indicator for a trader who uses the values of 3 moving averages for his trading decisions. As the name of the indicator implies, it draws the values of 3 moving averages onto the chart. And the values can be calculated from the actual time frame or from higher time frames.
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
The indicator comes with very nice looking panel on the chart. You can simply click on this panel to add and remove indicator drawings from higher time frames.
Multi Timeframe Triple Moving Averages Indicator For MT4 Configuration
The Multi Timeframe Triple Moving Averages Indicator For MT4 gives you many configuration opportunities as you can see from the following screenshot:
With the standard settings the indicator draws 3 simple moving averages on the chart. The first simple moving average has a period of 50, the second one has a period of 100 and the third one has a period of 200. This multiplying by 2 (50 -> 100 -> 200) is often used for trading systems that are based on 3 moving averages. But of course you can configure the periods according to your preference.
Besides the period you can also configure the calculation method for the moving averages. The method "Simple" is the standard configuration. You can also choose Exponential, Smoothed and Linear Weighted to calculate the moving averages.
You could also change the price that is applied to calculate the values. Usually you will use the standard setting "close price" but you can also change it to Open, High, Low, Median, Typical and Weighted price.
For everyone of the moving averages you can also configure the line style Solid, Dot, DashDot and DashDotDot. You can also define how thick lines are drawn and of course you can also define the colors of the lines.
Showing Values Of Multipe Time Frames
With the Multi Timeframe Triple Moving Averages Indicator For MT4 you can also show the values of multiple other (higher) time frames on the actual chart.
In the following screenshot you can see that the time frame of the actual chart is M30. On the panel of the Multi Timeframe Triple Moving Averages Indicator For MT4 I have clicked on the time frames H1 and H4. Now the values of both higher time frames are drawn. Therefore, you will see 6 moving averages on the chart.
A big benefit of this indicator is also that it remembers the settings and the configuration of the panel even when you switch the time frames.
If you switch the time frame from M30 to M15 or even M5, then the same indicator values will be drawn on the chart.
On the other hand, if you switch to a higher time frame than the time frames that are enabled on the panel, then the moving average lines will disappear. That's quite logical because you can't show values from lower time frames on higher time frames. The other way around, showing values of higher time frames on lower time frame, works in MT4.
Multi Timeframe Triple Moving Averages Indicator For MT4 Conclusion
I have personally never traded a 3 moving averages trading system. But from what I read on the internet this trading style is quite prevalent.
Most system explanations that I read wait for the 3 moving averages to line up. For buy trade setups you should wait for the fast moving average to be above the middle moving average and the middle moving average should be above the slow moving average. This situations shows you a fast moving trend.
Many traders trade a dip of the price toward the fast moving average. Other traders even wait until the price moves between the fast moving average and the middle moving average.
For sell entries the moving averages need to be lined up into the opposite direction. The fastest moving average must be below the middle moving average. The middle moving average must be below the slow moving average. If these conditions are given then there is a strong moving downward trend and traders search for sell entries.
