Top 10 MT4 Indicators That Works (Free Download)

<p>MetaTrader 4 (MT4) is the most widely used trading platform. Retail traders of all financial markets, especially the forex market, consider MT4 for trading due to its user-friendly interface and the tools it provides.</p>
<p><img class="alignnone size-full wp-image-64717" src="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MetaTrader-4.png" alt="MetaTrader 4" width="630" height="379" srcset="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MetaTrader-4.png 630w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MetaTrader-4-300×180.png 300w" sizes="(max-width: 630px) 100vw, 630px" /></p>
<h2><strong>What are MT4 indicators?</strong></h2>
<p>MT4 is the user-based easy programming software known for its superior trade execution speed and comprehensive market visibility.</p>
<p>It compromises of various <a href="https://www.forexmt4indicators.com/category/forex-mt4-indicators/" target="_blank" rel="noopener noreferrer">technical indicators</a> that is the go-to source for measuring market movements. Whether you are a beginner or an expert trader, MT4 provides default and custom indicators for detailed market analysis.</p>
<p>MT4 is highly customizable and uses an MQL4 programming language to create various forex indicators.</p>
<p><strong><em>Here are the top 10 MT4 indicators that expert traders use:</em></strong></p>
<h2><strong>1. MACD </strong></h2>
<p>The first one on the list is MACD or Moving Average Convergence Divergence. The MACD indicates price movements by combining two moving averages. It is considered one of the best trends following indicator and is used for intraday and swing trading.</p>
<h3><strong>How to use the MACD?</strong></h3>
<p>The <a href="https://www.forexmt4indicators.com/forex-macd-strategy/" target="_blank" rel="noopener noreferrer">MACD</a> comprises two moving averages; the 26-day EMA (exponential moving average) and the 12-day EMA, and it subtracts the 26-day EMA from 12-day EMA for calculations. The 12-day EMA is the fastest one. In addition, there is a 9-day EMA that acts as a signal line and provides buy and sell signals.</p>
<p>When the 12-day EMA crosses the 9-day EMA from above, a buy signal is generated. On the other hand, when the 12-day EMA crosses below the 9-day EMA, it’s a sell signal.</p>
<p>The MACD can be used with other forms of technical analysis, as the chart patterns. This makes the indicator more effective.</p>
<p><img class="alignnone size-full wp-image-64710" src="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MACD-on-a-chart.png" alt="MACD" width="1167" height="389" srcset="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MACD-on-a-chart.png 1167w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MACD-on-a-chart-300×100.png 300w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MACD-on-a-chart-1024×341.png 1024w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MACD-on-a-chart-768×256.png 768w" sizes="(max-width: 1167px) 100vw, 1167px" /></p>
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<h2><strong>2. Relative Strength Index (RSI)</strong></h2>
<p>The RSI is a momentum oscillator. It measures the ratio of upward and downward price movements and calculates the trend’s strength in a range from 0 to 100.</p>
<h3><strong>How to use the RSI?</strong></h3>
<p>If the <a href="https://www.forexmt4indicators.com/forex-rsi-strategy/" target="_blank" rel="noopener noreferrer">RSI</a> shows a value above 70, this is an overbought condition, which means there is a strong buying pressure, and the currency pair or an asset is trading over its usual level. In this situation, you need to take short positions.</p>
<p>Contrarily, when the RSI is below 30, it is an oversold condition and signifies that the price will bounce back. Oversold conditions can last for a long time from months to years. So, before entering short positions, traders should wait for confirmation.</p>
<p>Traders frequently use the RSI with other forms of technical analysis to confirm trading signals.</p>
<p><img class="alignnone size-full wp-image-64709" src="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/RSI-on-a-chart.png" alt="Relative Strength Index (RSI)" width="1166" height="392" srcset="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/RSI-on-a-chart.png 1166w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/RSI-on-a-chart-300×101.png 300w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/RSI-on-a-chart-1024×344.png 1024w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/RSI-on-a-chart-768×258.png 768w" sizes="(max-width: 1166px) 100vw, 1166px" /></p>
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<h2><strong>3. Stochastic Momentum Indicator</strong></h2>
<p>The Stochastic indicator is part of oscillator indicators, like RSI and Commodity Channel Index (CCI).</p>
<h3><strong>How to use the Stochastics indicator?</strong></h3>
<p><a href="https://www.forexmt4indicators.com/forex-stochastic-strategy/" target="_blank" rel="noopener noreferrer">Stochastics</a> use in trending markets is different from ranging markets.</p>
<p>On the MT4 platform, the two lines %K and %D represents Stochastics. K% is the current value of the Stochastics, while D% is the 3-period moving average of K%.</p>
<p>Signals forms when the K% crosses through the D%. The value of the Stochastics lies between 0 to 100. When the indicator shows values above 80, it is an overbought condition. And, when the values are below 20, it is an oversold condition.</p>
<p>Stochastics can often produce reversal signals, so traders should utilize it in conjunction with other technical analysis.</p>
<p><img class="alignnone size-full wp-image-64708" src="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Stochastics-on-a-chart.png" alt="Stochastic Momentum Indicator" width="1169" height="392" srcset="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Stochastics-on-a-chart.png 1169w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Stochastics-on-a-chart-300×101.png 300w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Stochastics-on-a-chart-1024×343.png 1024w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Stochastics-on-a-chart-768×258.png 768w" sizes="(max-width: 1169px) 100vw, 1169px" /></p>
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<h2><strong>4. Fibonacci Retracement</strong></h2>
<p>This is another important indicator that many experts use. It identifies potential support and resistance levels.</p>
<h3><strong>How to use Fibonacci Retracement?</strong></h3>
<p>Fibonacci Retracement signifies that when price moves significantly in one direction, it retraces back to its previous price level, and then moves again to its original level.</p>
<p><a href="https://www.forexmt4indicators.com/simplified-fibonacci-trading-strategy-tools-need/" target="_blank" rel="noopener noreferrer">Fibonacci Retracement</a> is calculated by taking two price highs and then dividing these with Fibonacci ratios. Fibonacci ratios are based on Fibonacci sequence (0, 1, 1, 2, 3, 5, 8, 13 and so on).</p>
<p>Once these ratios are achieved, traders can identify support and resistance levels by plotting horizontal lines.</p>
<p><img class="alignnone size-full wp-image-64706" src="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Fibonaaci-Retracement-indicator-on-a-chart.png" alt="Fibonacci Retracement" width="1168" height="387" srcset="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Fibonaaci-Retracement-indicator-on-a-chart.png 1168w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Fibonaaci-Retracement-indicator-on-a-chart-300×99.png 300w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Fibonaaci-Retracement-indicator-on-a-chart-1024×339.png 1024w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Fibonaaci-Retracement-indicator-on-a-chart-768×254.png 768w" sizes="(max-width: 1168px) 100vw, 1168px" /></p>
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<h2><strong>5. Bollinger Bands</strong></h2>
<p>Bollinger Bands works similar to Fibonacci Retracements and identifies support and resistance levels. It is a part of volatility indicators that measures price volatility.</p>
<h3><strong>How to use Bollinger Bands?</strong></h3>
<p>The bands expand or narrow, depending on the market volatility. <a href="https://www.forexmt4indicators.com/forex-bollinger-bands-strategy/" target="_blank" rel="noopener noreferrer">Bollinger bands</a> use three lines to present volatility. They are SMA (simple moving average) with the value of 20, a lower band (lower than SMA’s value), and the upper band (higher than SMA’s value).</p>
<p>If the market is highly volatile, the bands will widen and will shrink with the decreasing volatility.</p>
<p>You need to place entry and exit points near the upper and lower bands. Sell positions are taken on the upper band and buy positions at the lower band limit.</p>
<p><img class="alignnone size-full wp-image-64713" src="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Bollinger-Bands-on-a-chart.png" alt="Bollinger Bands" width="1168" height="392" srcset="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Bollinger-Bands-on-a-chart.png 1168w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Bollinger-Bands-on-a-chart-300×101.png 300w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Bollinger-Bands-on-a-chart-1024×344.png 1024w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Bollinger-Bands-on-a-chart-768×258.png 768w" sizes="(max-width: 1168px) 100vw, 1168px" /></p>
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<h2><strong>6. Average Directional Index (ADX)</strong></h2>
<p>ADX measures the strength of a current trend.</p>
<h3><strong>How to use the ADX?</strong></h3>
<p>Just like the RSI and Stochastics, it is a momentum oscillator and moves from 0 to 100.</p>
<p>A reading below 20 indicates a weaker trend, while a reading above 50 signifies a strong trend.</p>
<p><a href="https://www.forexmt4indicators.com/adx-pro-forex-trend-following-strategy/" target="_blank" rel="noopener noreferrer">ADX</a> can also be used as a reversal indicator. It mentions whether the current trend has a reversal potential in the future.</p>
<p><img class="alignnone size-full wp-image-64711" src="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/ADX-on-a-chart.png" alt="Average Directional Index (ADX)" width="1170" height="390" srcset="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/ADX-on-a-chart.png 1170w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/ADX-on-a-chart-300×100.png 300w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/ADX-on-a-chart-1024×341.png 1024w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/ADX-on-a-chart-768×256.png 768w" sizes="(max-width: 1170px) 100vw, 1170px" /></p>
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<h2><strong>7. Money Flow Index (MFI)</strong></h2>
<p>The MFI is a volume indicator that finds the supply and demand levels of a particular asset.</p>
<h3><strong>How to use the MFI?</strong></h3>
<p>It finds price changes and displays tick volume on the charts. It tells traders about the supply and demand flow of an asset.</p>
<p>The default period for the <a href="https://www.forexmt4indicators.com/money-flow-reversal-forex-trading-strategy/">MFI</a> is 14 and can be adjusted accordingly. The MFI ranges from 0 to 100. If the value is above 80, it’s an overbought condition, and if the value is below 20, it’s an oversold condition.</p>
<p><img class="alignnone size-full wp-image-64707" src="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MFI-on-a-chart.png" alt="Money Flow Index (MFI)" width="1166" height="391" srcset="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MFI-on-a-chart.png 1166w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MFI-on-a-chart-300×101.png 300w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MFI-on-a-chart-1024×343.png 1024w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/MFI-on-a-chart-768×258.png 768w" sizes="(max-width: 1166px) 100vw, 1166px" /></p>
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<h2><strong>8. Parabolic SAR</strong></h2>
<p>Parabolic SAR (stops and reversals) determines the ending of a trend.</p>
<h4><strong>How to use the Parabolic SAR?</strong></h4>
<p>The indicator illustrates dots and points on the chart to identify trend reversals. When the dots come below the candles, it is a positive signal, and you should enter long.</p>
<p>Conversely, when the dots come below the candles, it’s a negative signal, and you need to enter short.</p>
<p>Remember that <a href="https://www.forexmt4indicators.com/fisher-parabolic-forex-trading-strategy/" target="_blank" rel="noopener noreferrer">Parabolic SAR</a> works fine in trending markets.</p>
<p><img class="alignnone size-full wp-image-64712" src="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Parabolic-SAR-on-a-chart.png" alt="Parabolic SAR" width="1170" height="393" srcset="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Parabolic-SAR-on-a-chart.png 1170w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Parabolic-SAR-on-a-chart-300×101.png 300w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Parabolic-SAR-on-a-chart-1024×344.png 1024w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Parabolic-SAR-on-a-chart-768×258.png 768w" sizes="(max-width: 1170px) 100vw, 1170px" /></p>
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<h2><strong>9. Hammer/Hanging Man Indicator</strong></h2>
<p>These indicators are candlestick-based patterns, which describe potential reversals.</p>
<h3><strong>How to use Hammer/Hanging man indicator?</strong></h3>
<p>Hanging man is a bearish reversal pattern and appears in an uptrend. Its structure contains a longer lower wick with the little or no upper wick. It tells traders to exit their long positions.</p>
<p><a href="https://www.forexmt4indicators.com/hammer-pattern-forex-candlestick-strategy/" target="_blank" rel="noopener noreferrer">Hammer</a> is a bullish reversal candlestick pattern and surfaces in a downtrend. It has a structure similar to a hammer with a longer lower wick and a small body.</p>
<p><img class="size-full wp-image-64715 aligncenter" src="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Hanging-man-and-Hammer-indicator.png" alt="Hammer/Hanging Man Indicator" width="505" height="310" srcset="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Hanging-man-and-Hammer-indicator.png 505w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Hanging-man-and-Hammer-indicator-300×184.png 300w" sizes="(max-width: 505px) 100vw, 505px" /></p>
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<h2><strong>10. Change Percentage Indicator</strong></h2>
<p>As the name suggests, the Change percentage indicator defines the price fluctuations in a percentage.</p>
<h3><strong>How to use the Change Percentage indicator?</strong></h3>
<p>To use the indicator, you need to set a specific timeframe like daily or monthly. The indicator would then calculate price movements by analyzing the past and the current data.</p>
<p><img class="alignnone size-full wp-image-64714" src="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Change-Percentage-indicator-on-a-chart.png" alt="Change Percentage Indicator" width="1169" height="393" srcset="https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Change-Percentage-indicator-on-a-chart.png 1169w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Change-Percentage-indicator-on-a-chart-300×101.png 300w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Change-Percentage-indicator-on-a-chart-1024×344.png 1024w, https://www.forexmt4indicators.com/wp-content/uploads/2020/09/Change-Percentage-indicator-on-a-chart-768×258.png 768w" sizes="(max-width: 1169px) 100vw, 1169px" /></p>
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<h2><strong>Conclusion</strong></h2>
<p>No indicators are 100% accurate. To trade effectively, you need to combine these indicators with other forms of technical analysis.</p>
<p>The Top 10 MT4 Indicators provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.</p>
<p>Based on the information, traders can assume further price movement and adjust their strategy accordingly.</p>
<p>All of the above-mentioned indicators are free so that you can download them with no additional costs.</p>
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<h2><strong>MT4 Indicators Installation Instructions</strong></h2>
<p><iframe src="https://www.youtube.com/embed/YczVA9lhppk" width="500" height="315" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<h4><strong>How to install MT4 Indicator?</strong></h4>
<ul>
<li>Download The MT4 Indicator (mq4) file.</li>
<li>Copy (mq4) file to your Metatrader Directory / experts / indicators /</li>
<li>Start or restart your Metatrader 4 Client</li>
<li>Select Chart and Timeframe where you want to test your MT4 indicators</li>
<li>Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client</li>
<li>Right click on the (mq4) file</li>
<li>Attach to a chart</li>
<li>Modify settings or press ok</li>
<li>The MT4 Indicator will be available on your Chart.</li>
</ul>
<h4><strong>How to remove MT4 Indicator (mq4) file from your Metatrader Chart?</strong></h4>
<ul>
<li>Select the Chart where is the Indicator running in your Metatrader 4 Client</li>
<li>Right click into the Chart</li>
<li>“Indicators list”</li>
<li>Select the Indicator and delete</li>
</ul>
<p><strong>Click here below to download:</strong><br />
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<p>La entrada <a rel="nofollow" href="https://www.forexmt4indicators.com/top-10-mt4-indicators/">Top 10 MT4 Indicators That Works (Free Download)</a> se publicó primero en <a rel="nofollow" href="https://www.forexmt4indicators.com">Forex MT4 Indicators</a>.</p>