Description

FRZ Colored Moving Average Indicator for MT4 & MT5

This FRZ Colored Moving Average Indicator is a moving average indicator that uses different colors depending on the slope. This makes it easier to identify the trend and upcoming trend reversals. There are many settings that can be customized, such as the MA period and type, the colors and the time frame.

The line is green while the moving average rises, red while it falls and grey while it is flat, and it can alert you when the colour changes. You can also show the moving average of a higher timeframe on your current chart.

Screenshot

Specs

Settings

Installation: in MetaTrader, open File > Open Data Folder, copy the .ex4 file into MQL4/Indicators (MT4) or the .ex5 file into MQL5/Indicators (MT5), restart MetaTrader, then drag the indicator from Navigator > Indicators onto your chart. The settings below appear on the indicator’s Inputs tab, numbered the same way.

MA Settings

1. MA Period (default: 12) – number of candles in the moving average. Smaller values react faster; larger values give a smoother trend line.
2. MA Method (default: Exponential) – Simple, Exponential, Smoothed or Linear Weighted.
3. MA Price (default: Close price) – the price the moving average is calculated on.
4. Timeframe (default: Current) – calculate the moving average on a higher timeframe, e.g. H4 on an H1 chart. A timeframe lower than the chart’s is ignored.
5. Flat Threshold (points) (default: 0) – a change smaller than this many points counts as flat (grey). At 0 the line is only grey when the average is exactly unchanged; for example, 5 on a 5-digit pair treats moves under half a pip as flat.

Alert Settings

6. Alert When the Color Changes (default: false) – when true, notifies you once when a candle closes and the line has turned rising or falling.
7. Alert Notification (default: true) – shows a MetaTrader alert popup with the details, pair and timeframe.
8. Sound Notification (default: true) – plays a sound with the alert.
9. Email Notification (default: false) – sends the alert by email. Set up your email account first under Tools > Options > Email.
10. Phone Notification (default: false) – sends a push notification to the MetaTrader mobile app. Enter your MetaQuotes ID under Tools > Options > Notifications first.

Settings 7-10 only apply when setting 6 is switched on.

Display Settings

11. Rising Color (default: green) – colour while the average rises.
12. Falling Color (default: red) – colour while the average falls.
13. Flat Color (default: silver) – colour while the average is flat.
14. Line Width (default: 2) – thickness of the line, from 1 to 5.
15. Max History Bars (default: 5000) – how many candles are calculated when the indicator loads. Set 0 for the full history.

Recommended Broker & VPS

We recommend using a low-spread broker and a reliable VPS.

• Recommended Broker: IC Markets. If ICMarkets not available in your country, please use IC Trading.
• Recommended VPS Provider: Contabo VPS.

You may contact us on live chat in case you need any support in this regard.

Risk Disclaimer

Trading in financial markets involves substantial risk and may not be suitable for all investors. Our software is provided “as is” without any guarantee of profit. You are advised to test thoroughly on demo accounts before trading live. Please review our full terms and conditions before purchasing.

Related Trading Categories

Indicators & Analysis