Four Moving Average Scanner
This indicator is designed to scan all pairs and symbols, for all selected time frames, to find a cross of moving averages.
The 4 Moving Average Strategy
The scanner has 4 moving averages:
- 2 moving averages to define the trend
- 2 moving averages are used to find the right moment to send an alert
If the fast trend MA is above the slow trend MA, than it is considered as a bullish market and it will only provide bullish alerts. If the fast trend MA is lower then the slow trend MA, it is considered as a bearish market and it will only provide bearish alerts.
If the 2 other moving averages cross each other, the scanner will send an alert if the trigger is in line with the trend defined by the trend MAs. E.g. if the fast alert MA crosses the slow alert MA from below and the fast trend MA is above the slow trend MA, the scanner will send a Bullish alert.
- 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.
- 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.
- 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.
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