Download MMR Indicator [combination of 4 indicators: MACD, EMA, LWMA and RSI] MT4 - MetaTrader 4 Resources

The MMR indicator on MetaTrader 4 is a combination of four technical analysis tools: MACD, EMA, LWMA and RSI indicator .

The output of this trading tool is displayed as a histogram, with green and red bars marking potential trade entry areas based on the direction of the market trend.

By merging four analytical tools, the MMR indicator reduces signal noise and provides a clearer view of market conditions.

MMR Indicator Table

The general specifications of the MMR portfolio indicator are shown in the table below.

Indicator Overview

The MMR indicator draws a colored histogram on the chart by combining four analytical components.

• The green bar above the zero line indicates a primarily bullish condition;
• The red bar below the zero line reflects a bearish trend.

These bars are formed based on the average results of underlying indicators and accurately depict the strength and direction of the market.

Uptrend Conditions

The price chart below shows the USD/CAD currency pair on a 30-minute time frame. In this oscillator, the RSI exiting oversold territory signals waning selling pressure and a potential trend reversal.

Meanwhile, a bullish MACD crossover and a price break above the EMA or LWMA confirm trend reversal signals.

Once a green bar forms above the zero line in MMR and the candlestick color changes to green, a suitable buying zone is established.

downtrend conditions

The chart below shows gold (XAU/USD) on the 4-hour time frame. Early signs of easing buying pressure will appear once the RSI exits the overbought territory.

Negative histogram lines, with closing prices below the moving averages EMA or LWMA, indicate a change in market direction.

A red bar forms below the zero line on the MMR histogram, accompanied by a red candlestick, marking the sell entry zone.

MMR indicator settings

The image below shows the settings panel of the MMR oscillator in trading:

• MACD Fast MA Period : MACD fast moving average period;
• MACD Slow MA Period : The slow moving average period in MACD;
• MACD Signal Period : The signal line calculation period in MACD;
• RSI Period : Standard RSI period;
• EMA Period : exponential moving average period;
• LWMA Period : Linear weighted moving average period.

Conclusion

The MMR composite indicator, utilizing four technical analysis techniques , is a valuable tool for trend and momentum analysis. This oscillator shows price direction as well as trade entry and exit areas with clear green and red histograms.