iMACol Indicator (MT4) - Free Download

Introduction to the iMACol Indicator

The iMACol indicator is a simple trend following forex indicator, that works great in trending market.

Basically, it is a moving average that changes color depending on a current buy / sell signal. I recommend using it on larger timeframes because usually, they tend to show less noise.

It fits all kinds of timeframes and currency pairs.

The indicator is displayed directly on the main trading chart.

The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

The iMACol indicator can be successfully used as a standalone indicator or a very good addition to more complex systems. You will find the trading rules for the iMacol indicator below.

Check also:
Hull Moving Average MT4
Xmaster Formula Indicator

How to trade with iMAcol indicator?

BUY SIGNAL
Open long position on first closed candle after the iMACol indicator changes color to blue.

SELL SIGNAL
Open short position on first closed candle after the iMACol indicator changes color to red.

CLOSE SIGNAL
Close position on first closed candle after the iMACol indicator changes color to yellow.

How to set up the iMACol indicator in MT4?

Installation Guide

Copy and paste the imacol.ex4 or imacol.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL4 > Indicators (paste here).

Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

Bottom Line

The iMAcol indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.