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IFX_MultiMovingAverage is the indicator enabling users to determine the direction of several moving averages on one time frame and understand what trend currently prevails. Users can enter their own values and types of moving averages.
SMA = Sum(Price)/n, where
Price — price at the moment from 1 to n;
n — moving average period.
Various types of moving averages represent a popular analysis tool. Despite a large number of periods and types of MA calculation, practical use of moving averages is based on two factors: possibility to determine the trend direction with the help of MA and breakout/bounce trading from the level of this indicator.
Using IFX_MultiMovingAverage in MetaTrader, traders can easily figure out the trend showed by any of four moving averages applied in the indicator. The color of the indicator signals the trend direction: red color of moving averages in the extra window of the indicators means that the moving average is downward. Green color of IFX_MultiMovingAverage indicates an uptrend.
Using this indicator, traders can combine different moving averages, watching which trend prevails on a senior timeframe in one window. Based on this factor, traders can make market entry/exit decisions in the direction of the prevailing trend and at the same time monitor the moving average on a short-term time frame.
MA1 = 13
MA2 = 34
MA3 = 55
MA4 = 89
