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Moving Average Ma Ribbon

The Moving Average (MA) Ribbon indicator for MT4 displays trend direction and reversal zones. The indicator works by smoothing out price data over a specified period, giving traders a clearer view of market direction. Download for free! Try now!

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Description

The Moving Average (MA) Ribbon indicator for MT4 is a trend-following Forex indicator for identifying trend direction and potential reversal zones. It provides Forex traders with short and long-term trading opportunities in the market.

Besides identifying trend direction and reversal zones, the indicator also helps traders identify the strength of a bullish or bearish trend. Thus, traders can use the indicator to determine the overall market direction, identify trading opportunities, and use it as a confluence to make informed trading decisions.

Features of the Moving Average (MA) Ribbon Indicator for MT4

The indicator uses a combination of two moving averages with different periods to create a ribbon-like shape for trend analysis. Besides, it displays red and green signal arrows, indicating potential buying and selling opportunities.

Furthermore, the indicator is built with an alert system that notifies traders of potential buying/selling opportunities via email.

Benefits of Trading with the Indicator

  • Trend Identification: The indicator helps Forex traders to identify the prevailing trend direction of the market. A bullish trend is when the ribbon rises continually to the upside, while a bearish trend is when it moves to the downside.
  • Trend Strength Identification: The distance between the two moving averages indicates the trend’s strength. So, the bigger the distance between the moving averages, the stronger the strength and vice versa.
  • BUY/SELL Entry Signals: The indicator is a beginner-friendly tool; it displays buy/sell entry signals when the moving averages cross over.
  • Support and Resistance Zones: Finally, the moving averages are potential support and resistance zones where the price tends to bounce off. So, traders can look for possible entry opportunities during pullbacks.

Indicator Settings Description

The indicator comes with the following customizable settings:

MA1Period: Determines the period for the moving average 1.

MA1Method: Determines the calculation method for the moving average 1.

MA1Price: Determines the price type for the moving average 1.

MA2Period: Determines the period for the moving average 2.

MA2Method: Determines the calculation method for the moving average 2.

MA2Price: Determines the price type for the moving average 2.

 AlertOn: Enables/Disables the alert function.

EmailOn: Enables/Disables email alerts.

AlertOnClosedCandle: Enables/Disables alerts on closed candlestick.

ShowArrows: Enables/Disables the display of buy/sell signal arrows.

ArrowsUpColor: Defines the color for bullish signals.

ArrowDnColor: Defines the color for bearish signals.

Corner: Defines the chart corner to display the indicator.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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