Target Indicator with Moving Averages
Info
The Target Indicator with Moving Averages is a Indicator for MetaTrader 4 that this indicator identifies potential target areas using simple moving averages (sma) of periods 20, 50, 100, and 200. It helps traders anticipate the next price level the market may reach.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Target Indicator with Moving Averages
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This indicator identifies potential target areas using Simple Moving Averages (SMA) of periods 20, 50, 100, and 200.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: External Range Liquidity (ERL) Indicator: Advanced Market Structure and Liquidity Analysis - another powerful indicator for MetaTrader 4 traders.
This indicator identifies potential target areas using Simple Moving Averages (SMA) of periods 20, 50, 100, and 200.Also recommended: B Bands Psar Indicator - similar indicator with strong performance on MetaTrader 4.
It helps traders anticipate the next price level the market may reach.The logic is as follows: If the price breaks the SMA 20, the next target is the SMA 50. If the price breaks the SMA 50, the next target is the SMA 100. If the price breaks the SMA 100, the next target is the SMA 200.
Please note that the moving average lines themselves are not included with this indicator; it solely displays the calculated target levels.
The indicator supports both Indonesian and English languages.
You may also like: Fast Stochastic Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
extern string help = "use from tf 5m and change to find target";
extern bool indonesian = true;
int init()
{
objectcreate("tar",obj_text,0,0,0,0,0);
return(0);
}.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.