How to use Indicators in MetaTrader


How to use Indicators in MetaTrader

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.

metatrader_menu

These indicators are ready to use in your MetaTrader:

Accelerator/Decelerator Oscillator
Accumulation/Distribution
Alligator
Average Directional Movement Index
Average True Range
Awesome Oscillator
Bears Power
Bollinger Bands
Bulls Power
Commodity Channel Index
DeMarker
Envelopes
Force Index
Fractals
Gator Oscillator
Ichimoku Kinko Hyo
Market Facilitation Index
Momentum
Money Flow Index
Moving Average
Moving Average Convergence/Divergence
Moving Average of Oscillator
On Balance Volume
Parabolic SAR
Relative Strength Index
Relative Vigor Index
Standard Deviation
Stochastic Oscillator
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”.

metatrader_market

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There are many free indicators that you can try here. Also, you can find many indicators online on sites like:

ForexFactory

MQL Forum

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:

Trend indicators:

MOVING AVERAGEs

moving_average_metatrader

AVERAGE DIRECTIONAL MOVEMENT INDEX (ADX)

Average_Directional_Movement_Index

BOLLINGER BANDS

Bollinger_Bands

ICHIMOKU KINKO HYO

Ichimoku_Kinko_Hyo

Oscillators:

AVERAGE TRUE RANGE (ATR)

Average_True_Range

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MOVING AVERAGE CONVERGENCE/DIVERGENCE (MACD)

MACD

RELATIVE STRENGTH INDEX (RSI)

Relative_Strength_Index

Previous step:

Next step:

  • How to use Expert Advisors
  • How to use Scripts
  • How to draw in a chart
  • How to open a trade
  • How to BackTest

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