BMA MetaTrader indicator | FREE Forex Trading Indicator

BMA MetaTrader indicator or Band Moving Average was created by combining the original moving average indicator and an idea from a site visitor. The indicator appears as three lines: the central line is the standard MT4/MT5 moving average (which can be simple, exponential, or weighted), the upper line is the same as the central one but lifted up by 2% (by default), and the lower line is the same as the central one but pushed down by 2%. These two additional lines represent the levels of support and resistance. The indicator is compatible with both MT4 and MT5.

Input parameters

  • MA_Period (default = 49) — the period of the standard moving average (central line).
  • MA_Shift (default = 0) — horizontal shift for all lines on the chart.
  • MA_Method (default = Simple) — the method for MA drawing.
  • Percentage (default = 2) — number of percents to vertically shift the upper and lower bands compared to the central line.

BMA (Band Moving Average) Indicator Example MetaTrader Chart



The best way to use this indicator is to attach it to EUR/USD H4 chart (example shown above) and to sell when the price reaches upper band and to buy when the price reaches lower band. Moderate stop-loss level is advised in both cases as the price can sometimes break those levels or the lines may change directions suddenly.

Downloads

BMA for MetaTrader 4 in .zip

BMA for MetaTrader 4 in .mq4

BMA for MetaTrader 5 in .zip

BMA for MetaTrader 5 in .mq5


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