Forex Envelopes and MA Chart MT4 Indicator:
About the Forex Envelopes and MA Chart MT4 Indicator
This indicator takes input from Envelopes and the Moving Average.
Great for determining trend direction.
Can be used on all time frames and pairs.
MA Period for MA line (Change to your preference)
How to use:
Simply attach to any chart with default settings, or change to your preference.
Recommended for H1 and above.
Buy when blue envelope and blue MA line cross below the price.
Sell when red envelope and red MA line cross above the price.
Best results when taking higher time frames into consideration before entering trades.
Use as you see fit for your strategy.
Best results on Major Pairs, but can also be used on other pairs.
Important to note:
- Please do not use this indicator haphazardly. Make sure it compliments your strategy.
- Don’t risk money you cannot afford to lose.
- You use this indicator at your own risk. Please apply money management wisely.
- Always test your strategy on a demo account before using a new indicator on a live account.
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)