How to add moving average indicator??

[Blue_reyes]

To add a moving average (MA) indicator:

1. Choose the type of MA: Decide between Simple Moving Average (SMA) or Exponential Moving Average (EMA).
2. Select the period: Common periods are 20, 50, or 200 days.
3. Calculate the MA:
   • SMA: Sum the closing prices over the period and divide by the number of periods.
   • EMA: Use a more complex formula that gives more weight to recent prices.
4. Plot the MA: Overlay the MA line on your price chart.

Are you an answering robot? jezuz

 

[FXO_trader]

That is the basis of working with an MA, I knew that already its pretty basic. I don't think you completely understood my question here. You cannot determine support and resistance levels precisely by using the MA, that is my main point.

I have never used moving averages as a method of finding support and resistance. I rarely use indicators, only to search for divergence

 

[ImogenBeaumont]

I have never used moving averages as a method of finding support and resistance. I rarely use indicators, only to search for divergence

Well then it must have been a misunderstanding, yeah I agree that finding convergence can give you good confirmations on your take on the asset.

 

[Zerologic]

Can I have a moving average indicator for both resistance and support levels on MT4? If yes, then how?

Maybe you can try using several MAs with different settings, for example, MA 1 period 20, MA 2 periods 50, MA 3 periods 100, and so on, basically MA can function as dynamic support and resistance

 

[FXO_trader]

Well then it must have been a misunderstanding, yeah I agree that finding convergence can give you good confirmations on your take on the asset.

Divergences and convergences are good for confirming trading strategy signals

 

[Elektra-Greene]

I have never used moving averages as a method of finding support and resistance. I rarely use indicators, only to search for divergence

interesting point of view

 

[FXO_trader]

interesting point of view

Try looking for patterns. Sometimes this gives good results

 

[Elektra-Greene]

Try looking for patterns. Sometimes this gives good results

Thanks!

 

[Zerologic]

The moving average is one lagging indicator means gives signal after the trend has formed, because lagging indicator hence traders might be late to entries and profit less maximum, The moving Average is a good indicator to measure the long-term trend, many traders use the MA 200 to determine long term trend if price above the line means market bullish and likewise if below the line means market bearish.

 

[Elektra-Greene]

The moving average is one lagging indicator means gives signal after the trend has formed, because lagging indicator hence traders might be late to entries and profit less maximum, The moving Average is a good indicator to measure the long-term trend, many traders use the MA 200 to determine long term trend if price above the line means market bullish and likewise if below the line means market bearish.

Are you using chatGPT for answers?