Drive Metatrader 4 Indicator
The Drive indicator for MT4 looks very similar to the popular ADX indicator developed by Welles Wilder. The main purpose of the indicator is to determine the strength of the current trend. The green line above the red line indicates an uptrend in the market while the red line above the green line indicates a downtrend may be underway.
EUR/USD 1 Hour Chart Example
- Download:Drive.ex4 4 Kb
Moving Averages (MAs) are among most commonly used indicators in Forex. They are easy to set and easy to interpret. Speaking simple, moving averages simply measure the average move of the price during a given time period. It smooths out the price data, allowing to see market trends and tendencies. How to use Moving Averages Moving Average is a trend indicator. Besides its obvious simple function a Moving Average has much more to tell: In Forex moving average is used to determine: 1. Price direction - up, down or sideways.2. Price location - trading bias: above Moving average - buy, below Moving average - sell.3. Price momentum - the angle of the Moving average: rising angle - momentum holds, falling angle - momentum pauses or stops.4. Price support/resistance levels. Types of Moving Averages SMA - Simple Moving Average - shows the average price for a given period of time. EMA - Exponential Moving average - gives priority to most recent data, thus reacts to price changes quicker than Simple Moving Average. WMA - Weighted Moving Average - puts emphasis on most recent data an less - on older data. Most common settings for Moving Averages in Forex 200 EMA and 200 SMA100 SMA50 SMA34 SMA20 EMA and 20 SMA10 EMA and 10 SMA Try and test and then choose your favorite set of Moving Averages.
All Woodies CCI indicator draws Woodies CCI histograms below the main trading window for the following time frame’s: M1, M5, M15, M30, H1, H4, D1, W1 and MN. The indicator oscillates between +200 (very strong) and -200 (very weak). Trading Signals BUY: CCI Woodies Values > 0 (blue bars)SELL: CCI Woodies Values < 0 (red bars) Use in conjunction with other technical tools. EUR/USD Daily Chart Example
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