The Taotra Indicator MT4 is a trend indicator for MetaTrader 4 designed to indicate the general direction of a trend. It plots 20 colored linear weighted moving averages (LWMA) on the main chart. These moving averages help identify the current market trend and generate trend reversal signals. The indicator displays three key MAs: the fast MA, the slow MA, and the middle MA, which acts as a dynamic trend line. Furthermore, trend reversal signals occur when the green MA crosses above the red MA, indicating a buy, or when it crosses below, signaling a sell. Therefore, the clear color-coded signals make it beginner-friendly. Forex traders can leverage these signals to execute trades effectively. Finally, the indicator is highly customizable, with a choice of a number of averages and color options.
This indicator is suitable for traders of all skill levels and across all time frames. Its versatility extends to trading multiple currency pairs within any forex trading system or strategy, to identify the general direction of a trend.
Indicator Settings
How to Install Taotra Indicator MT4
Download and extract files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:
The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.
