Watch the testing video here:
Introduction to the iMACol Indicator
The iMACol indicator is a simple trend following forex indicator, that works great in trending market.
Basically, it is a moving average that changes color depending on a current buy / sell signal. I recommend using it on larger timeframes because usually, they tend to show less noise.
It fits all kinds of timeframes and currency pairs.
The indicator is displayed directly on the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
The iMACol indicator can be successfully used as a standalone indicator or a very good addition to more complex systems. You will find the trading rules for the iMacol indicator below.
How to trade with iMAcol indicator?
Open long position on first closed candle after the iMACol indicator changes color to blue.
Open short position on first closed candle after the iMACol indicator changes color to red.
Close position on first closed candle after the iMACol indicator changes color to yellow.
How to set up the iMACol indicator in MT4?
Copy and paste the imacol.ex4 or imacol.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
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