MultiMA indicator by Varchev Finance

We present you a custom indicator by Varchev Finance which can be downloaded from the following link. To use it you should follow the instruction written here How to add an additional indicator to the Meta Trader 4 platform.

How does the indicator actually  work:

MultiMA by Varchev Finance automates 20 moving averages of the chart according to certain criteria. Choose the type of moving average, the first period, and the increment step for placing the remaining 19 moving averages, as shown in the picture below:

You can also choose a different color for each moving moving average, and for a visually good effect we combine 5 moving averages into one color (this is the default setting in the following form). With the current settings, the indicator will visualize the MA with a period of 5, 6, 7 … to 24, and they will be of the Simple type and will be at the closing price.

Good settings are the overlay of the indicator 2 times with MA Period: 2 and MA step: 2 + MA Period: 3 and MA step: 3, which would look like this:

Although moving averages are a lagging indicator, it does not necessarily mean they can not be useful to us. There are many traders who trade quite successfully only on the basis of moving averages.

For example, it may be useful to collect the 20 moving inside a series of bars, which outlines the lack of market direction and the exit of the price from the relevant range: