Definition – What does MetaTrader Forex Indicators mean?
MetaTrader Forex Indicators are a vast collection of standard and user-defined indicators that can be applied to charts using the Metatrader platform. MetaTrader allows users to choose and adapt commonly used indicators such as moving averages as their primary forex indicators. For more advanced MetaTrader users, there is the option to program custom indicators to apply to charts.
ForexTerms explains MetaTrader Forex Indicators
MetaTrader forex indicators are usually the basic indicators that you find anywhere – moving averages, average true range, trend indicators. If, however, you are looking to create truly customized indicators for a specific strategy, you can do so with a bit of programming. You can even plug your custom indicators into an expert advisor, but you will need to work in MetaTrader’s proprietary programming language, MetaQuotes Language 4 or MQL4. That said, for many traders, the out-of-the-box indicators work just fine.