How to Add and Adjust Custom Moving Average Indicators on MT4
Moving average indicators are among the many ways in which traders analyze markets.
MA’s are an easy way to get to know the trend of a market. Or to confirm if markets are consolidating.
In this post, I’ll guide you on how to customize the indicators and get the best out of them.
Specifically, we’ll go over the setup of SMA 200, SMA100, and SMA25.
I’ll go over this with plenty of images to help a new person visualize everything.
Accessing MT4 Account
First, start by logging into your MT4 account.
Start from the File menu and Click on the option marked — Login to a trading account.
Once you click on — Log in to Trade Account, You’ll need to provide your log-in credentials as below.
Once you provide valid credentials, the system will log in and open the MT4 interface. See an example below for the
Step-By-Step Process for Adding Indicators- SMA’s
Adding Moving averages starts with clicking on the Insert Menu.
The Insert menu is the third (The first is File, and the second is Edit)
After Clicking on Insert Menu, Click on the first option — Indicators.
Indicators will open another Sub-menu — On it, click on the last option marked — Custom.
Custom will open another sub-menu with a list of Indicators. On this, select the Custom Moving Averages.
Once you click on Custom Moving Averages, you’ll get a new window, as shown below.
The above window will help you customize your SMA as you wish.
One, you can change the period — from the default 13 to the specific one you want.
You can tweak the colors to one that most appeals to you.
Plus, you can vary the indicator’s width to your preference — MT4 allows you 5 optional choices.
Custom Indicator Preferences
To change the period, you double-click and change the number under the period record — and under the value column.
In the case below, the preference is to use a period as 200 (SMA200)
Of course, after setting the value, you also click on the save button.
Tip: The above also applies to SMA100 and SMA25. You input the numbers as above. Then, always click on save.
Another Tip: You can change the settings by Right-Clicking on the line to a particular SMA and changing the settings as you prefer. You may also delete the indicator by clicking on the relevant option.
Adjusting SMA Indicator Colour, Width and Line-Style
You can tweak the colors by clicking on the indicators’ color settings.
By default, you have up to 144 color choices.
However, you can further customize the colors by selecting the Custom tab, and you can tweak the colors with as many choices as there are in the RGD or Hex Code options.
Tip: Once you select the color of your choice, click on Ok to accept. Alternatively, click on the Reset button to switch to the defaults.
Changing Indicator Width
To change the indicator width, use the Width choices. Click on the drop-down menu to show all 5 choices. Click on your choice and confirm by clicking on the Ok button.
Changing Indicator Style
To change the indicator style, use the style tab as shown below.
And once set, click on the ok button to confirm the changes or Click on the reset button to switch back to the previous choices.
As you can see, the 3 SMA’s are very clear on a chart.
From an analysis point of view, the prices are on an upward trend as per the SMA 25.
However, a more important appearance is the Golden crossover of both SMA 25 and SMA 100 over the SMA 200
There you go.
Custom moving averages are a reliable way to approach your market analysis.
Working with some other indicators, you hike your chances of capturing winning signals to help validate your trading strategy.