Introduction
Welcome to the somewhat mysterious world of trading indicators. If you've stumbled upon this guide, you're probably curious about the Moving Average Currency Strength Meter—one of the so-called best indicators online. Whether this claim holds water or not, let's dive into how to install, set up, and (hopefully) profit from this tool. Spoiler: I have my doubts, as always.Installation and Setup
To get started, you’ll need to download the Moving Average Currency Strength Meter from the official website: here. Follow these steps:- Download the Indicator: Navigate through the website and download the .ex5 file.
- Install the Indicator: Open MetaTrader 5, go to File > Open Data Folder > MQL5 > Indicators, and drop the .ex5 file into this directory.
- Attach to Chart: Restart MetaTrader 5, go to Insert > Indicators > Custom, and select the Moving Average Currency Strength Meter. Attach it to your desired chart.
- Configure Settings: Customize parameters according to your trading strategy. Pay special attention to the moving average periods and currency strength parameters.
Experience with the Moving Average Currency Strength Meter
My experience? Mixed at best. Some users, like our optimistic friend Forex 101, claim you can earn $$$ quickly. Others like 9503331 love its simplicity and currency meter feature. Sure, I've seen a +3% return too, but let's not get carried away. Follow the rules, manage your risks, and don't expect this to be your golden ticket to financial freedom.Tips for Improving Performance
You didn’t think it was just about installing and pressing play, did you? Here are some tips to genuinely maximize the efficiency of this robot:- Money Management: As Ravi Luke pointed out, good money management is crucial. Set your risk per trade at a manageable level—typically 1-2%.
- Backtesting: Always backtest the indicator on historical data to understand its behavior during different market conditions.
- Avoid Overtrading: Stick to your plan and avoid overtrading based on every crossover signal.
- Stay Updated: Keep the indicator updated with the latest version from the website to benefit from any improvements.
The Source Code of Moving Average Currency Strength Meter
Ah, the elusive source code. The original source code isn't available; it’s a secret kept tighter than a miser's wallet. However, we can create a code based on its description available on MQL5. If you have technical questions about the code, feel free to ask.Note: The EASY Trading Team doesn’t sell the Moving Average Currency Strength Meter; we merely created a robot based on its publicly described features.
Code:
You don't have permission to view the code content. Log in or register now.Download the Moving Average Currency Strength Meter
So, you're ready to take the plunge and download the Moving Average Currency Strength Meter? Fantastic. You can find it here. Remember, while the indicator could help, it won't turn you into a trading superstar overnight. Questions about the code? Fire away—this example code from easytradingforum.com is based on the description available on MQL5.Happy (cautious) trading!