The Moving Average Ribbon Indicator for MetaTrader 4 is a useful tool that helps traders spot bullish and bearish trends by combining two moving averages. As these moving averages form a ribbon, the distance between them indicates market strength. You can find buy and sell signals when the moving averages crossover.
Indicator Description
The Moving Average Ribbon Indicator shows clear buy and sell signals with green and red arrows on your chart. The width of the ribbon visually represents the strength of the market’s momentum: a wider ribbon signals strong price movement, whereas a narrowing ribbon may show a potential trend reversal. Also, it works effectively across all chart time frames, from the 1-minute chart to the daily chart.
Moving Average Ribbon Indicator Installation
1. Unzip the file you’ve downloaded.
2. Find the file that is called “Moving average ribbon.ex4″ and copy it.
3. Open your MT4.
4. Go to “File – Open Data Folder – MQL4”.
5. Paste the file into the “Indicators” folder in MQL4.
6. Restart your MT4.
After the installation, your trading chart will look like this:
Basic Trading Signals
BUY: when the indicator displays a green arrow, it signals that the market is bullish, and that there might be a good time to enter a buy trade. Traders can place their buy order and set a stop-loss below the previous swing low to manage risk.
SELL: a red arrow represents a bearish market and signals a potential sell opportunity. Traders can enter a sell position and set a stop-loss above the previous swing high to protect against potential losses.
My Conclusion on Moving Average Ribbon Indicator
Moving Average Ribbon Indicator is a reliable tool to identify market trends with visual cues like arrows and ribbons. It is suitable for traders of all levels, and it helps improve trading accuracy across various time frames. You can easily identify potential buy and sell signals in the market. And, as a free download, it adds a great value to any trading arsenal.
P.S. Have problems with installation? Email me at olivermurphy@altraforex.com or support@altraforex.com
I would love to help!
P.P.S. Check out software by Altra Forex Group here
