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Thread: How to setup Indicators on mt4 chart.

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    How to setup Indicators on mt4 chart.

    Dear forum members,
    Me and my colleagues are going to teach you how to setup indicators on MetaTrader 4 chart. By using these indicators you can find the trend of forex market, by using these trends you can easily gain 20 to 100 pips.

    Source: nigeria-forex.com

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    How to set Moving Average on MetaTrader 4 chart

    Moving average is very important indicators on MetaTrader4 chart. Many traders use this Moving Average indicator for technical analysis. In this lesson you will learn how to set Moving Average indicator on your MetaTrader4 chart.

    First open your MetaTrader4 platform.


    1. In the menu bar, click on Insert.

    2. Now click on Indicators

    3. Now click on Trends

    4. finally click on Moving Average.

    After complete above step you will reach to new window


    Now you will see 3 tabs.

    Parameters tab Click on Parameters tab; You can set your moving average property;

    i. Period box; In period box you can set the value of your moving average.

    ii. MA method; you can set the method of moving average by select of any option, if you select Simple it will be called SMA, or select Exponential it will be called EMA

    iii. Apply to; you can set it by default on close or open high low etc

    iv. Style; you can set color of your EMA from this option.

    Now click on Level Tab


    Level Tab ; you can set channel with main MA. Click on Add, then double click on Level and put distance value from your MA. This option is not compulsory. You can avoid this parameter or keep the value 00.

    Now click on visualization tab


    Visualization tab; you can see the time frame where you can use this moving average. If you select All timeframes, then you will see your MA on all time frames.


    Congratulation: you have successfully install moving average on your MetaTrader4 chart.

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    How to set moving average on mt4 chart

    Moving average is very important indicators on mt4 chart. Many traders use this MA for technical analysis. In this lesson you will learn how to set moving average indicator on your MetaTrader4 chart.

    1. First open your mt4 platform. In the menu bar, click on “Insert”. Then click on “Indicators”. From right side window, click on “Trend”. Then you will see many indicators. Click on “Moving Average”.


    2. New window will be opened. You will see 3 tab on that window. In Parameters tab, you can set your moving average value on period box. You can change MA method. There are four types of method such as Simple, exponential, smoothed and linear weighted. You can choose as your wish. Simple and exponential MA is very popular. If you select Simple, then your MA will be called SMA. If you set exponential, then MA will be called EMA
    You can change also apply to such as Close, Open, High, Low and several other options. You can customize MA color from Style.


    3. In Level tab, you can set channel with main MA. Click on Add, then double click on Level and put distance value from your MA. This option is not compulsory. You can avoid this parameter or keep the value 00.


    4. In visualization tab, you can see the time frame where you can use this moving average. If you select All timeframes, then you will see your MA on all time frames.


    5. Thus you can easily set moving average on your chart.

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    How to set Bollinger Bands in mt4 chart

    Bollinger Bands is a technical analysis tools which indicates overbought and oversold area by two standard deviation bands. Upper band of Bollinger Bands indicates overbought area and lower band indicates oversold area of the market price. From this indicator, you can measure volatility of the market movement. When the bands are within a range, then it indicates less volatile. When the bands are widen, then it indicates the volatility of the market price. Usually 20 simple moving average is used on Bollinger Bands.


    In this tutorial, you will learn:

    (1)how to set Bollinger Bands indicator on your chart,

    (2)how to customize its parameters,

    (3)how to remove this indicator from mt4 chart.

    How to set Bollinger Bands indicator

    First open your chart. In the above menu, click on ”Insert”. Then click on ”Indicators” and ”Trend”. You will see Bollinger Bands indicator. Then click on ”Bollinger Bands” .


    How to customize its parameter

    You will get new window to customize the parameters of Bollinger Bands indicator. In ”Parameters” tab, you will get three parameters such as ”Period”, ”Shift”, ”Deviations”. In ”Period” box, you can put your desired simple moving average value. Here 20 SMA is used. You can set 0 value on ”Shift” box. In ”Deviations” box, you can put value how much you want to get standard deviation range. In default setting, you can use 2 on ”Deviations” box. You can change the color and width of Bollinger Bands indicator. Here red color is used on this indicator.


    In ”Levels” tab, you can add level on this indicator. Click on ”Add” and put value on level. You can put 0 value on level. Here you can change level’s color and width.


    You can add another Bollinger Bands on same chart. You have to follow above process of adding this indicator. You need to make only one change in ”Parameters” tab. You need to put 3 on ”Deviations” box. You can add more bands and for that you just need to change ”Deviations” value.


    How to remove Bollinger Bands from chart

    You can remove different bands separately from your chart. You have to move your mouse on the band which you want to remove and press on ”Right-button”. New window will be appeared. Then click ”Delete Indicator”. Thus your desired band will be removed from your chart.

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    How to set RSI indicator in mt4 chart

    RSI (Relative Strength Index) is a popular trading indicator which indicates overbought and oversold area of the price movement. Usually 70 and 30 levels are used to identify the overbought and oversold area. Above 70 level indicates overbought area and below 30 level indicates oversold area. 50 level is used for trend changing. If price cross 50 level from lower to upper, then it indicates uptrend. If price cross 50 level from upper to lower, then it indicates downtrend.

    In this tutorial, you will learn:
    (1)how to set RSI indicator on your chart,
    (2)how to customize its parameters,
    (3)how to remove this indicator from mt4 chart.

    How to set RSI indicator
    First open your chart. Click on ”Insert”. Then click on ”Indicators” and ”Oscillators”. You will see your desired indicator. Then click on ”Relative Strength Index” .


    How to customize its parameter
    You will get new window to customize the parameters of RSI indicator. In ”Parameters” tab, you can change ”Period” option. You can put your desired value on period box. Here you can change the color and width of RSI indicator.


    In ”Levels” tab, you can add levels on RSI indicator. Click on ”Add” and you can put value on level. You can add 30, 50 and 70 level. You can change the color of the level lines.


    How to remove RSI indicator from chart
    You can remove this RSI indicator from your chart. Move your mouse on the indicator and press on ”Right-button”. New window will be appeared. Then click ”Delete Indicator Window”. Thus RSI indicator will be disappear from your chart.

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    How to set MACD on mt4 chart

    MACD is a powerful trading indicator which provides direction and momentum of any trend. MACD means moving average convergence/divergence. It is used for identifying the trend of the market. Above 0.0 level of MACD, it is considered as uptrend and below 0.0 level, it is considered as downtrend of the market. This tutorial shows you how to set MACD on your mt4 chart. You will learn also how to change parameters of MACD from this tutorial.

    First open your mt4 terminal. From the menu bar, click on ”Insert”, then click on ”Indicators”. After that click on ”Custom”. You will find new window as like below image, then Click on ”MACD”.


    You will get new window to edit parameters of the MACD. Click on ”Common” tab. You do not need to change any parameter on Common tab. You can use default setting of it.


    In ”Input” tab, you will find three variables. You can change the value of these variables. To change any value, you need to double click on the value and put your desired value. Then click on ”Ok” buttom.


    In ”Colors” tab, you can customize colors of the MACD indicator. Double click on color and chose color as your choice. You can also change width and style of MACD.


    You can add levels on MACD from the ”Levels” tab. Click on ”Add” and set your desired level.

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    How to set Stochastic indicator in mt4 chart

    Stochastic Oscillator is a common indicator which indicates overbought and oversold area of the forex market movement. In this indicator 80 and 20 level are used for identifying overbought and oversold area. 80 level indicates overbought area and 20 level indicates oversold area. So this is a helpful trading indicator.

    In this tutorial, you will learn:
    (1)how to set stochastic indicator on your chart,
    (2)how to customize its parameters,

    How to set Stochastic indicator
    First open your chart. Click on ”Insert”. Then click on ”Indicators” and ”Oscillators”. Then click on ”Stochastic Oscillator” indicator.


    How to customize its parameter
    You will get new window to customize the parameters of stochastic indicator. In ”Parameters” tab, you will get ”%K period”, “%D period”, ”Slowing” parameters. You can change these parameters. There is ”MA method” parameter. You can select any method. Simple and exponential MA method is normally used.



    In ”Colors” tab, you can change color of the indicator. You can also change width of stochastic indicator.



    In ”Levels” tab, you can add levels on this indicator. Click on ”Add” and you can put value on level. You have to add 20 and 80 level. You can change the color of the level lines.

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