Cross Indicator

Cross Indicator

The Cross indicator for MT4 paints a buy/sell signal when two moving averages cross over.

The Cross indicator for Metatrader 4 is a chart-friendly forex indicator that delivers buy and sell signals when two moving averages cross over. In other words, it paints a signal dot whenever the moving averages cross over. The crossover between the moving averages is made to happen behind the scene to keep your MT4 chart clog-free.

The indicator is well-refined and very efficient when it comes to identifying scalping and day trading opportunities in the market. Besides, you may also use it along with other technical trading tools for better efficiency since it is chart-friendly and does not clog candlestick views.

Buy/Sell Signals of the Cross Indicator

The image above shows the action of the Cross indicator on the EURUSD currency pair. The red signal dot that appears on the indicator depicts that the two moving averages have crossed over to the downside, signaling a sell entry. Conversely, the green dot posits that the moving averages have crossover to the upside, signaling a buy entry. Therefore, you may open a buy position after the indicator prints a green dot or sell when it pops up the red dot.

The Cross indicator is notable for delivering incredible scalping and day/intraday buy/sell signals; however, it is still susceptible to false signals due to irregular movement in the market. To this end, it is recommended to be used in confluence with price action/other indicators.

Conclusion
The Cross indicator for MT4 is a great technical trading tool suitable for an absolute beginner in the forex trading industry. Besides, advanced traders may also use it as a confluence before making a trade decision. Finally, it is free to download.