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How to add 100 and 200 day averages to forex metatrader?

Forex traders often use moving averages to help them identify trends and potential trading opportunities. Two popular moving averages are the 100-day and 200-day averages. These averages can be easily added to the MetaTrader 4 platform, a commonly used trading platform in the forex market. In this article, we will explain how to add 100 and 200 day averages to forex MetaTrader.

Step 1: Open the MetaTrader 4 Platform

The first step is to open the MetaTrader 4 platform. If you do not have the platform installed on your computer, you can download it from the official website of the MetaTrader 4.

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Step 2: Select a Currency Pair

Once you have opened the platform, select a currency pair that you want to add the moving averages to. To do this, click on the ‘File’ tab, select ‘New Chart’ and then choose the currency pair you want to trade.

Step 3: Open the Chart

After selecting the currency pair, the chart will open. To modify the chart, you need to right-click on the chart and select ‘Properties’ from the drop-down menu.

Step 4: Add Moving Averages

In the ‘Properties’ window, select the ‘Common’ tab. Here, you will find the option to add moving averages. Click on the ‘Add’ button to add a new moving average.

Step 5: Configure the Moving Averages

After clicking on the ‘Add’ button, a new window will appear where you can configure the moving averages. In this window, you can set the period for the moving average. For a 100-day moving average, set the period to 100, and for a 200-day moving average, set the period to 200. You can also choose the color and thickness of the line for the moving average.

Step 6: Save the Moving Averages

Once you have configured the moving averages, click on ‘OK’ to save the settings. The moving averages will now be added to the chart.

Step 7: Analyze the Chart

After adding the moving averages, you can start analyzing the chart to identify trends and potential trading opportunities. When the price of the currency pair is above the moving averages, it indicates an uptrend, and when the price is below the moving averages, it indicates a downtrend. Traders often use moving average crossovers to generate trading signals. A crossover occurs when the shorter moving average crosses above or below the longer moving average.

Conclusion

Adding 100 and 200 day averages to forex MetaTrader is a simple process that can help traders identify trends and potential trading opportunities. By following the steps outlined in this article, you can easily add these moving averages to your charts and start analyzing the market. Remember that moving averages are just one tool in a trader’s toolbox, and should be used in conjunction with other indicators and analysis techniques to make informed trading decisions.

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