The moving average (MA) indicator is one of the most used technical indicators for forex traders. It’s a formula used to calculate the averages of a market’s movements over a longer time period (usually weeks or months rather than days) to identify trends, which is vital for a good forex trading strategy.
One of the basic moving average strategies is to look for a buy trade when price is above the moving average indicator or to consider a sell trade when price is below it. Whilst the moving average can signal market direction, it does require further analysis before entering a position.
Some traders might use a double moving average crossover to confirm entries in line with the trend. Others might take things even further with an additional filter that forms a 3 moving average crossover strategy. The indicator is very diverse and simple to interpret.
What is the free Moving Average EA?
If you are a fan of the Moving Average indicator and don’t want to constantly be sifting through multiple charts and timeframes for Moving Average signals, then this free Moving Average EA can be a great solution.
It will analyse all of the charts that you attach it to in the MetaTrader 4 (MT4) platform for buy or sell signals which can save you plenty of time and allow you to simultaneously follow lots of currency pairs or other financial instruments.
How does the free Moving Average EA work?
When the Moving Average EA finds a valid trading signal according to its built-in algorithm, it will send you a signal alert via SMS, email or a platform pop-up. You can choose the alerts that you wish to receive from the Moving Average EA settings.
Not only can it send you alerts for manual trading, but you can set it to actually place trades on your behalf in case you are not around to do it yourself. It includes customisable settings and money management features such as stop loss, take profit, break even and a trailing stop.
Moving Average EA Trading Strategy
I have built this free Moving Average EA for MT4 (MQL4) so that you can use it to generate signals and automatically trade based on a few different Moving Average trading strategies. The strategies can be set to true or false, depending on what Moving Average signals you wish to receive.
If you set both strategies to true, then all of the conditions will need to be met for the Moving Average expert advisor to send you a trading signal or place a trade. If you want to trade each strategy separately, then you can simply run the Moving Average EA on separate charts and choose a unique magic number for each.
Moving Average Trend Strategy
- Buy Signal: Price is above the moving average
- Sell Signal: Price is below the moving average
Moving Average Crossover Strategy
- Buy Signal: Fast Moving Average crosses above the Slow Moving Average
- Sell Signal: Fast Moving Average crosses below the Slow Moving Average
Moving Average Trend and Crossover Strategy
- Buy Signal: Price is above the moving average and the Fast Moving Average crosses above the Slow Moving Average
- Sell Signal: Price is below the moving average and the Fast Moving Average crosses below the Slow Moving Average
Moving Average EA Features
- All of the Moving Average EA settings are customisable
- The Moving Average robot can send Moving Average signals and trade automatically
- Keep full control over your money management
- The Moving Average EA MQL4 is developed for the MT4 platform
- The Moving Average MT4 EA can be used on any MT4 forex broker
- The Moving Average EA is free to use without any restrictions at all
- Includes easy to understand setup instructions
Moving Average EA Settings
- Expert Name
- Pop Up Alerts
- Email Alerts
- SMS Alerts
- Days Filters
- Hours Filter
- Magic Number Buy
- Magic Number Sell
- Maximum Spread
- Maximum Slippage
- Open Orders Limit
- Use Risk
- Risk Percent
- Stop Loss
- Take Profit
- Close Opposite Signal
- Use Break Even
- Break Even Point
- Use Trailing Stop
- Trailing Gap
- Close Percent
- Minimum Lot Close
- Moving Average
- Moving Average Crossover
- SMA Fast
- SMA Slow
Conclusion: Is this free Moving Average EA for me?
If you are looking to get automated Moving Average signals in MT4 then yes, this can do the job. It can send you buy or sell signal alerts and place trades without you needing to do anything. As with any automated or manual forex strategy, there is no guarantee at all on the results that you will get.
This Moving Average robot has not been optimized so it does not include set files. You will need to choose your own settings. However, you do have unlimited access so you can test it as much as you want on all of your favourite currency pairs and chart timeframes.
If you manage to come up with some interesting settings that show good historical performance, please feel free to share them with me.
You might also want to check out my other free forex EA’s that you can download:
- Free Bollinger Bands EA
- Free RSI EA
- Free CCI EA
- Free Envelopes EA
- Free ADX EA
- Free Ichimoku EA
- Free Stochastic EA
- Free Parabolic SAR EA
- Free MACD EA
If you are looking for a forex robot that combines multiple technical indicators along with price action analysis, please feel free to take a look at my free forex robot.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.