In this tutorial, you’ll learn how to use indicators in MetaTrader. MetaTrader has many technical indicators. You can use it for discretionary strategy, or you can use it to create your automated trading system using MQL language.
To select an indicator, you only need to click on the indicators list and choose one indicator.
These indicators are ready to use in your MetaTrader:
Average Directional Movement Index
Average True Range
Commodity Channel Index
Ichimoku Kinko Hyo
Market Facilitation Index
Money Flow Index
Moving Average Convergence/Divergence
Moving Average of Oscillator
On Balance Volume
Relative Strength Index
Relative Vigor Index
Williams’ Percent Range
What are the most useful indicators?
MetaTrader has many indicators, and you can find lots of them in the MetaTrader Market. Go to the bottom of the platform and click on “Market” and choose “Indicators”.
There are many free indicators that you can try here. Also, you can find many indicators online on sites like:
Many indicators are useless; others are complicated. If you can’t understand how your indicator works, don’t use it. You have to follow the formula of any indicator you are using.
This is the seven most relevant and useful indicators:
AVERAGE DIRECTIONAL MOVEMENT INDEX (ADX)
ICHIMOKU KINKO HYO
AVERAGE TRUE RANGE (ATR)
MOVING AVERAGE CONVERGENCE/DIVERGENCE (MACD)
RELATIVE STRENGTH INDEX (RSI)
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