Three Moving Average Scanner - Detail Description

Three Moving Average Scanner - Detail Description

6 April 2019, 22:03
Victor Christiaanse
0
364

Three Moving Average Scanner


This scanner is monitoring the entire market for trade opportunities for all symbols and for all time frames. You don't have to look to all the charts, for all symbols and for all time frames. This scanner will alert you on your computer, or on your mobile, when a trade opportunity has been found. 

You never have to miss a trade opportunity!

This indicator is designed to scan all pairs and symbols, for all selected time frames, to find a cross of the 3 moving averages.

Note: This scanner can also be used to find crosses for 2 moving averages. If the option "Only use 2 MAs (Fast and Slow)" is set to True, only the Fast and the Slow moving average will be used to find a cross over.

3MA Scanner

Link to product: https://www.mql5.com/en/market/product/35375

 

Three moving average strategy

The three moving average strategy is a very popular and proven strategy. 

The slowest moving average is used to determine the direction of the trend. If the price is above the slowest moving average, we are in a Bullish market and if the price is below the slowest moving average we are in a Bearish market.

When the price is above the slowest moving average, we are looking for buying opportunities. When the fast moving average is crossing above the medium moving average, it is a good moment to step into the market.

 

Trading Recommendations: 

  • Like for every indicator, the higher time frames are much more reliable then shorter time frames. For that reason, the recommendation is to use the scanner for high time frames only (H1 or higher).
  • Do not enter the market when high critical news is expected the same day. High critical news can result in unexpected movements in the market, which can not be identified by any indicator. News can be found on e.g. the MQL website, DailyFX and investing.com.
  • Do not enter the market when the price is close to an important support or resistance.

      

    Features

    • Scans all symbols visible in your Market Watch window, or all symbols available for your broker at the same time.
    • Indicator only have to be installed on one chart to scan the entire market.
    • Specify which time frame you want to monitor. Each time frame can be selected in the settings.
    • Receive Alerts in the MT4 terminal for each trade opportunity found.
    • The dashboard will show the latest alerts provided by this Scanner. When you click on an alert in the dashboard, a new chart will be opened for the applicable Symbol and time frame. The new chart will highlight the alert with a vertical line.
    • Receive Alerts on your mobile phone, so you never miss a trade opportunity! (MT4 notifications are use)
    • The moving average settings can be specified for each moving average (Fast MA, Medium MA and Slow MA).
    • Low CPU usage.

       

      Alerts Generation

      The scanner creates an alert when the following rules all are applicable:

      • The fast moving average crosses the medium moving average, or the medium moving average crosses the slow moving average.
      • For Bullish Alerts: Fast moving average is higher then the medium moving average, and medium moving average is higher then the slow moving average.
      • For Bearish Alerts: Fast moving average is lower then the medium moving average, and medium moving average is lower then the slow moving average.
      • The distance between each moving average is more than the minimum distance as specified in the parameter.

         

        The Scanner is also able to send Alerts & Notifications if the price has touched one of the Moving Averages. By default this option is turned off, but can be turned on by the following options available in the settings:

        • Alert when price touched Fast MA
        • Alert when price touched Medium MA
        • Alert when price touched Slow MA


        Installation

        • Download the Indicator in your MT4 terminal after you have purchased the product.
        • Place the indicator on one chart in your MT4 terminal (it does not matter what chart is used, any symbol and time frame can be used), and from that moment the entire market will be scanned for all pairs and symbols, and for all time frames as you have configured.


          Parameters

          ----------- General settings -----------

          • Send signals to Alert Message Box: If set to true, alerts will be issued to your MT4 terminal
          • Send signals to Mobile (Notifications): If set to true, alerts will be issued to your mobile using the MT4 Notifications
          • Scan pairs in Market Watch only: If set to true, only pairs and symbols within the MT4 Market Watch will be scanned. If set to false, all pairs and symbols available for your broker will be scanned and monitored
          • Symbols To Scan: You can enter symbols you want to scan by this scanner in this field. The symbols needs to be the same as they are shown on your Market Watch window. The field is case senstive. Each symbol needs to be separated by a comma (,).
          • Alert and Scan for each M1 bar: If set to true, pairs and symbols are scanned for each new bar for a moving average cross in the 1 Minute time frame
          • Alert and Scan for each M5 bar: If set to true, pairs and symbols are scanned for each new bar for a moving average cross in the 5 Minutes time frame
          • Alert and Scan for each M15 bar: If set to true, pairs and symbols are scanned for each new bar for a moving average cross in the 15 Minutes time frame
          • Alert and Scan for each M30 bar: If set to true, pairs and symbols are scanned for each new bar for a moving average cross in the 30 Minutes time frame
          • Alert and Scan for each H1 bar: If set to true, pairs and symbols are scanned for each new bar for a moving average cross in the 1 Hour time frame
          • Alert and Scan for each H4 bar: If set to true, pairs and symbols are scanned for each new bar for a moving average cross in the 4 Hours time frame
          • Alert and Scan for each D1 bar: If set to true, pairs and symbols are scanned for each new bar for a moving average cross in the Daily time frame
          • Alert and Scan for each W1 bar: If set to true, pairs and symbols are scanned for each new bar for a moving average cross in the Weekly time frame
          • Alert and Scan for each MN bar: If set to true, pairs and symbols are scanned for each new bar for a moving average cross in the Monthly time frame
          • Only receive Bullish Alerts: If set to true, only Bullish alerts will be provided by the scanner and Bearish alerts will ignored
          • Only receive Bearish Alerts: If set to true, only Bearish alerts will be provided by the scanner and Bullish alerts will ignored

          ----------- Indicator settings -----------

          • Fast MA Period: The period for the fastest moving average of the three moving average
          • Medium MA Period: The period for the medium moving average of the three moving average
          • Slow MA Period: The period for the slowest moving average of the three moving average
          • Minimum distance between MAs (pips): Specify the minimum distance in pips between each moving average, to find stronger movements in the market
          • Only use 2 MAs (Fast and Slow): If set to True, only the Fast and the Slow moving average will be used to find a cross over. When set to True, the scanner will find crosses for 2 moving averages.
          • Alert when price touched Fast MA: If true, the Scanner will send an Alert & Notification if the Price has touched the Fast Moving Average.
          • Alert when price touched Medium MA: If true, the Scanner will send an Alert & Notification if the Price has touched the Medium Moving Average.
          • Alert when price touched Slow MA: If true, the Scanner will send an Alert & Notification if the Price has touched the Slow Moving Average.
          • Moving Average Method for Fast MA: Select the Moving Average Method for the Fast moving average
          • Moving Average Method for Medium MA: : Select the Moving Average Method for the Medium moving average
          • Moving Average Method for Slow MA: Select the Moving Average Method for the Slow moving average
          • Moving Average Price for Fast MA: Select the Moving Average Price for the Fast moving average
          • Moving Average Price for Medium MA: Select the Moving Average Price for the Medium moving average
          • Moving Average Price for Slow MA: Select the Moving Average Price for the Slow moving average
          • Fast MA Shift: Select the Moving Average Shift for the Fast moving average. This value cannot be negative!
          • Medium MA Shift: Select the Moving Average Shift for the Medium moving average.  This value cannot be negative!
          • Slow MA Shift: Select the Moving Average Shift for the Slow moving average.  This value cannot be negative!

          ----------- Display settings -----------

          • Show Dashboard on chart: If True, a dashboard will be shown on the Chart with the latest alerts provided by this 3MA Scanner. When you click on the alert in the dashboard, a new chart will be opened for the applicable Symbol and time frame
          • Clear Dashboard at start of new Day: If True, all alerts will be removed from the dashboard at start of each new trading day.
          • Define Text color: Define the text color for all the text on the dashboard
          • Define Background color: Define the background color for the
          • Maximum number of Alerts printed on Chart
          • BullishAlertLineColor: Define the color of the vertical Line for Bullish Alerts, when you click on the alert in the Dashboard
          • BullishAlertLineStyle: Define the style of the Bullish Vertical Line
          • BearishAlertLineColor: Define the color of the vertical Line for Bearish Alerts, when you click on the alert in the Dashboard
          • BearishAlertLineStyle: Define the style of the Bearish Vertical Line
          • Template for new chart: Ability to specify the template which should be applied for the new charts opened from the Dashboard. The template should be in the default location of the MT4 application.
          Share it with friends: