The AMA STL Color indicator is a specialized algorithm for the MT4 trading platform. You can use the described algorithm to quickly assess the situation that has developed on the chart of the selected asset and identify the optimal moments for creating successful positions.
As the name suggests, this algorithm is an improved version of the time-tested AMA tool. The signals of the algorithm under consideration are displayed in the form of a curve near the price level, the location and shade of which changes depending on the situation on the chart of the selected asset.
Such signals are extremely simple and clear, due to which even a beginner speculator who is just getting acquainted with the foreign exchange market can effectively use the described algorithm.
Signals of the AMA STL Color indicator retain an acceptable level of accuracy at almost any time intervals and currency pairs, which makes it a fairly versatile tool.
To download the AMA STL Color indicator, use the link that you can see below.
Download AMA STL Color indicator
AMA STL Color indicator. Optimization
The installation procedure for the described algorithm is elementary. You do not need any skills or knowledge to complete this task. In order to get acquainted with the parameters of the considered algorithm, you just need to transfer the described algorithm to the chart of the selected asset.
The considered algorithm has the following parameters:
- “Range”. This parameter is responsible for how many bars the described algorithm will analyze in the process of generating signals.
- “Fast-MA”. In this field, you can set the period of the first curve, which is part of the considered algorithm.
- “Slow-MA”. This parameter is responsible for the value of the slow curve integrated into the considered algorithm.
- Count-Bars. In this field, you can specify the number of bars from history that the described algorithm will take into account when performing all the necessary calculations.
- “Filter”. This parameter allows you to configure the operation of the filter, which will filter out false signals.
Due to the fact that the described algorithm has only four adjustable parameters that affect the correctness of its functioning, not only a speculator with a certain trading experience, but also a beginner can handle the optimization process.
It is extremely simple to use the considered algorithm for making money in the foreign exchange market. You need to transfer the AMA STL Color indicator to the chart of the selected asset and optimize it. Then you just need to wait for the next signal and create a position in the desired direction.
As soon as the curve of the considered algorithm crosses the price of the selected asset from above and turns blue, you should create a buy position. A change in the hue of the curve is a signal to close a previously created buy position.
After the curve of the algorithm under consideration crosses the bottom of the price of the selected asset and turns red, you should promptly create a sell position. It is recommended to take the reverse change of the curve color as a signal for the prompt closing of a sell order.
To learn how to correctly optimize and apply the algorithm in question, use a demo account. To accumulate the necessary experience and skills in using this technical tool, use a demo account.