MA Ribbon Indicator
MT5Also Available for MT4The MA Ribbon Indicator for MT5 is a moving average based system with a filled strip that displays buying and selling opportunities.
Description
The MA Ribbon Indicator for MetaTrader 5 (MT5) is a multi-timeframe trend analyzer suitable for identifying short- and medium-term trading setups.
It is the product of two Moving Average (MA) indicators filled with robbon to identify optimal zones for high probability trading setups.
How to use the MA Ribbon Indicator for MT5
Above is how the indicator will look on your chart. The gray lines are moving average indicators, and the orange and blue zones are buy/sell entry signals.
The indicator signals a potential trend change when two moving averages cross in a downward/upward direction. Additionally, it signals a buying or selling opportunity when the moving averages fill in orange/blue.
Thus, a forex trader can expect a buy signal after one color MA crosses another MA and fills the area with blue. A buy order can be placed after the indicator forms a gray ribbon shape.
Similarly, a sell position can be opened after crossing the MA and is filled with orange forming a ribbon.
Conclusion
This indicator for MT5 is a MA Ribbon crossover indicator that acts as a filter for buy/sell trading entries.
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