The original LUA concept is quite interesting. If the trader wants to analyze the typical position of price (above or below) relative to a moving average, this indicator does that, but in a statistical way: It compares 50 different MA-Periods according to the Start_Period and the Steps (difference between each of those periods) and makes a final Sum of +1 and -1 depending whether price is above or below. This way, the trader knows when a trend is weakening and a new trend is under construction going from positive to negative.
How to install Moving Average Trend Indicator?
- First of all download the Moving Average Trend Indicator.zip
- Copy mq4 files to your Metatrader Directory/experts/ indicators /
- Start or restart your Metatrader software.
- Select Chart and Timeframe where you want to load the indicator file.
- Now load the indicator file from indicator section then you will see the Moving Average Trend Indicator on your Chart.