Forex Moving Average Crossover Scanner with Alert MT4 Indicator

Forex Moving Average Crossover Scanner with Alert MT4 Indicator:

About the Forex Moving Average Crossover Scanner with Alert MT4 Indicator

Supported types of moving averages

  • Simple
  • Exponential
  • Smoothed
  • Linear Weighted

Supported Price types

  • Close
  • Open
  • High
  • Low
  • Median Price (HL/2)
  • Typical (HLC/3)
  • Weighted Close (HLCC/4)

A moving average (MA) is a popular technical analysis trading tool that smooths out price data by creating a constantly updated  average price, over a specific time period. Used as a single line by itself, a moving average is often overlaid on price charts to indicate price trends.

A moving average crossover occurs when a faster moving average (a shorter period moving average) crosses a slower moving average (a longer period moving average). In other words, this is when the shorter period moving average line crosses a longer period moving average line. In trading & investing, this meeting point can be used to signal a change in trend or market structure.
Price crossovers occur when the price of an asset close above or below a moving average and are commonly used by traders to identify shifts in momentum, especially in a trending market.

Different traders use moving averages for different reasons. Some use them as their primary analytical tool, while others simply use them as a confidence builder to back up their investment decisions. If you’re using price or moving average crossovers in any part of your trading strategy, you know how critical it is to  be alerted as soon as a crossover happens, or to be easily able to scan a range of financial instruments for recent MA crosses!

Test results:

Forex Moving Average Crossover Scanner with Alert MT4 Indicator

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)

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