Top 10 Best MetaTrader Indicators for MT4 & MT5 in 2025

What Are the Best MetaTrader Indicators?

MetaTrader indicators are built-in tools that help traders analyze price movements and market behavior. They take past price data and turn it into visual signals, like lines, bands, or oscillators, that make trends and reversals easier to spot.

Both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) include dozens of free indicators, but some stand out for their reliability and simplicity. The best MetaTrader indicators in 2025, such as Moving Average, MACD, and RSI, remain popular because they help traders identify trend direction, momentum, and potential entry or exit points with clarity.

Top 10 MetaTrader Indicators Scoring Table

Here’s a quick overview of the top 10 best MetaTrader indicators for 2025. This table shows how each performs on MetaTrader 4 (MT4) and MetaTrader 5 (MT5), rating their reliability, ease of use, and best purpose.

How to read it:

• MT4/MT5: Shows where the indicator works best.

• Reliability (1–10): How consistent the signals are.

• Ease of Use: How simple it is to set up and understand.

• Customizable: Whether you can adjust settings to fit your trading style.

Best MetaTrader Indicators: Complete Guide

Below you’ll find the top 10 best MetaTrader indicators explained: how to install them on MT4 and MT5, customize their settings, and understand what each is best for.

1. XMaster Formula Indicator (XHMaster)

The XMaster Formula Indicator is one of the most talked-about tools among traders in 2025. Often called the xmaster formula mt4 indicator 2025, it combines trend, momentum, and volatility filters to show clear buy and sell signals on both MetaTrader 4 and MetaTrader 5 charts.

MT4 Installation:

1. Go to File > Open Data Folder > MQL4 > Indicators.

2. Copy the .mq4 or .ex4 file into that folder.

3. Restart MetaTrader 4 and look for “XMaster Formula” in the Navigator panel.
    

MT5 Installation:

1. Go to File > Open Data Folder > MQL5 > Indicators.

2. Copy the .mq5 or .ex5 file.

3. Restart MetaTrader 5 to load it under Indicators.
    

Recommended Settings:

• Use default parameters first, then adjust the signal sensitivity.

• For MT4, start on H1 or H4 charts for smoother trend signals.

• For MT5, enable alerts and tweak the smoothing period to match asset volatility.
   

Customization Tips:

• Adjust colors to highlight buy/sell zones.

• Enable push or sound alerts for new signals.

• Save your setup as a Template for quick reuse.
   

Platform Notes:

• On MT4, the indicator is lighter and ideal for forex.

• On MT5, it handles more assets (indices, metals) with improved responsiveness.
   

Troubleshooting:
If the indicator doesn’t appear after installation, recompile it in MetaEditor or check that “Allow DLL imports” is enabled in platform settings.

2. Moving Average Indicator

The Moving Average (MA) is one of the simplest and most reliable tools in MetaTrader. It smooths out price data to reveal the overall direction of the market, helping traders see if a trend is forming or fading.

MT4 Installation:

• Open Insert > Indicators > Trend > Moving Average.

• Choose between Simple Moving Average (SMA) or Exponential Moving Average (EMA).

• Click OK to apply it to your chart.
   

MT5 Installation:

• Go to Insert > Indicators > Trend > Moving Average.

• MT5 offers additional smoothing methods and visualization options.
   

Recommended Settings:

• For short-term trades: 20-period EMA.

• For long-term trend analysis: 50-period or 200-period SMA.

• Combine two MAs (e.g., 50 and 200) to watch for crossovers that signal trend changes.
   

Customization Tips:

• Change line color or thickness for clarity.

• Apply the MA to closing prices for consistency.

• Save your setup as a Template to reuse it across pairs.
   

Platform Notes:

• MT4 is great for quick trend checks in forex pairs.

• MT5 allows adding multiple MAs and testing combinations across different assets.

3. MACD Indicator (Moving Average Convergence Divergence)

The MACD Indicator is a popular tool for spotting momentum and potential trend reversals. It measures the distance between two moving averages and displays that information as lines and a histogram, helping traders see when momentum is building up or slowing down.

MT4 Installation:

• Go to Insert > Indicators > Oscillators > MACD.

• Adjust the default settings (12, 26, 9) or keep them as they are.

• Click OK to apply the indicator.
   

MT5 Installation:

• Go to Insert > Indicators > Oscillators > MACD.

• MT5 displays the histogram and lines in one window, making it easier to interpret.
   

Recommended Settings:

• Default (12, 26, 9) works well for most forex and index charts.

• Use longer settings (e.g., 24, 52, 9) for higher timeframes.

• Look for crossovers between the MACD line and the signal line for entry signals.
   

Customization Tips:

• Change colors for clearer separation between the two lines.

• Add alerts for crossovers to avoid missing entries.

• Combine with Bollinger Bands or RSI for stronger confirmation.
   

Platform Notes:

• On MT4, it’s compact and easy to use for quick visual checks.

• On MT5, it offers smoother visuals and integrates better with multi-asset charts.

4. RSI Indicator (Relative Strength Index)

The RSI Indicator helps traders identify when a market might be overbought or oversold. It measures the speed and strength of price movements on a scale from 0 to 100, making it one of the best MetaTrader indicators for spotting potential reversals.

MT4 Installation:

• Go to Insert > Indicators > Oscillators > Relative Strength Index (RSI).

• Keep the default period (14) or adjust based on your timeframe.
   

MT5 Installation:

• Go to Insert > Indicators > Oscillators > RSI.

• MT5 lets you layer multiple RSI indicators for comparison across timeframes.
   

Recommended Settings:

• 14-period RSI is standard.

• Overbought zone: above 70.

• Oversold zone: below 30.

• Tighten zones (80/20) in strong trending markets.
   

Customization Tips:

• Adjust colors for better contrast.

• Add alert levels when RSI crosses 70 or 30.

• Combine with Moving Average for trend confirmation.
   

Platform Notes:

• MT4: great for quick momentum checks on forex charts.

• MT5: allows deeper analysis and easier multi-timeframe comparison.

5. Bollinger Bands Indicator

The Bollinger Bands Indicator measures market volatility and helps identify potential breakouts or reversals. It consists of three lines; a middle Moving Average and two outer bands that expand or contract based on price volatility.

MT4 Installation:

• Go to Insert > Indicators > Trend > Bollinger Bands.

• Keep the default settings (20-period SMA, 2 deviations) or adjust as needed.
   

MT5 Installation:

• Go to Insert > Indicators > Trend > Bollinger Bands.

• MT5 includes more visual customization and easier backtesting.
   

Recommended Settings:

• Default: 20-period SMA, 2 standard deviations.

• For short-term trades, use 10–14 periods with 2.5 deviations.

• Watch for “band squeezes,” which often signal upcoming volatility.
   

Customization Tips:

• Change band colors for visibility.

• Add alerts for price touches or breaks of the bands.

• Combine with MACD or RSI to confirm entry signals.
   

Platform Notes:

• On MT4, ideal for forex breakout setups.

• On MT5, better for multi-asset volatility analysis and strategy testing.

6. Ichimoku Cloud Indicator

The Ichimoku Cloud Indicator is an all-in-one tool that shows trend direction, momentum, and potential support or resistance areas at a glance. Its distinctive “cloud” (Kumo) helps traders see whether the market is bullish, bearish, or in consolidation.

MT4 Installation:

• Go to Insert > Indicators > Trend > Ichimoku Kinko Hyo.

• Apply default settings (9, 26, 52) and click OK.
   

MT5 Installation:

• Go to Insert > Indicators > Trend > Ichimoku Kinko Hyo.

• MT5 makes it easier to toggle specific lines on or off for a cleaner chart.
   

Recommended Settings:

• Default: 9, 26, 52 works well for most timeframes.

• Short-term traders can use 7, 22, 44 for faster signals.

• Look for price above the cloud (uptrend) or below the cloud (downtrend).
   

Customization Tips:

• Hide less-used lines (like Chikou Span) for simplicity.

• Change cloud colors to match your chart theme.

• Combine with ADX or MACD for trend confirmation.
   

Platform Notes:

• MT4: good for long-term forex trend analysis.

• MT5: allows multi-asset use and clearer cloud visualization.

7. Stochastic Oscillator Indicator

The Stochastic Oscillator helps traders spot when a market may be losing momentum. It compares the closing price to the recent price range, showing potential overbought and oversold conditions on a scale from 0 to 100.

MT4 Installation:

• Go to Insert > Indicators > Oscillators > Stochastic Oscillator.

• Use the default settings (14, 3, 3) or adjust the periods for your strategy.
   

MT5 Installation:

• Go to Insert > Indicators > Oscillators > Stochastic Oscillator.

• MT5 allows smoother line rendering and alert setup.
   

Recommended Settings:

• %K period: 14 | %D period: 3 | Slowing: 3.

• Overbought: above 80 | Oversold: below 20.

• Shorten the periods (e.g., 9, 3, 3) for more frequent signals.
   

Customization Tips:

• Change line colors for clarity.

• Add alerts for crossovers in overbought/oversold zones.

• Combine with RSI or Pivot Points for stronger confirmation.
   

Platform Notes:

• MT4: effective for quick momentum checks in ranging markets.

• MT5: smoother display and better multi-asset performance.

8. ATR Indicator (Average True Range)

The Average True Range (ATR) Indicator measures market volatility; how much price typically moves during a set period. It doesn’t show direction, but it helps traders manage risk and set stop-loss levels that adapt to changing conditions.

MT4 Installation:

• Go to Insert > Indicators > Volumes > Average True Range.

• Keep the default setting (14 periods).
   

MT5 Installation:

• Go to Insert > Indicators > Volumes > Average True Range.

• MT5 lets you apply it to multiple assets for comparison.
   

Recommended Settings:

• Default: 14 periods.

• Multiply the ATR value by 1.5–2× for setting dynamic stops or targets.

• Shorter periods (e.g., 10) increase sensitivity.
   

Customization Tips:

• Change the line color for better visibility.

• Add alerts when ATR spikes to identify high-volatility sessions.

• Combine with Moving Average or SuperTrend for risk control.
   

Platform Notes:

• MT4: great for daily forex charts.

• MT5: better for volatility comparison across instruments.
   

9. Fibonacci Retracement Indicator

The Fibonacci Retracement Indicator helps identify potential support and resistance levels during pullbacks. Based on Fibonacci ratios, it shows where price might pause or reverse before continuing a trend.

MT4 Installation:

• Select Insert > Fibonacci > Retracement.

• Click and drag from a swing low to a swing high (or vice versa).
   

MT5 Installation:

• Same path: Insert > Fibonacci > Retracement.

• MT5 adds extensions and color customization.
   

Recommended Settings:

• Common retracement levels: 38.2%, 50%, and 61.8%.

• Add extensions at 127.2% and 161.8% for profit targets.
   

Customization Tips:

• Customize colors and label visibility.

• Save your levels as Default for quick reuse.

• Combine with RSI or MACD for confirmation near key levels.
   

Platform Notes:

• MT4: excellent for manual analysis and price planning.

• MT5: ideal for automated backtesting and multi-asset trading.
   

10. SuperTrend Indicator

The SuperTrend Indicator follows price direction and changes color when a trend reversal may be starting. It works directly on the chart, making it easy to see when momentum shifts.

MT4 Installation:

• Go to Insert > Indicators > Trend > SuperTrend (if available).

• If not built-in, download from a trusted source and add it to the Indicators folder.
   

MT5 Installation:

• Go to Insert > Indicators > Trend > SuperTrend.

• MT5 supports multiple SuperTrend variations from the Market tab.
   

Recommended Settings:

• ATR Period: 10 | Multiplier: 3 (default).

• Adjust values for more or fewer trend changes (higher = smoother).
   

Customization Tips:

• Change colors for uptrend/downtrend visibility.

• Enable alerts for trend flips.

• Combine with ADX Indicator or RSI for confirmation.
   

Platform Notes:

• MT4: simple and light for forex trends.

• MT5: integrates better with other indicators for automated strategies.
   

Where to Find Custom MetaTrader Indicators

One of the biggest advantages of MetaTrader 4 and MetaTrader 5 is the ability to add custom indicators. These are tools created by traders or developers to improve analysis, add alerts, or combine multiple strategies into one display.

Here are the safest and most common places to find them:

1. MQL5 Market (and MQL4 Market):
Built directly into MetaTrader, the Market tab lets you browse thousands of indicators; both free and paid. Each has ratings, screenshots, and user reviews.

2. MQL4 and MQL5 CodeBase:
The official library of free indicators shared by the MetaTrader community. It’s great for exploring open-source code or learning how indicators are built.

3. Trusted Third-Party Websites:
Some trading websites and developers publish custom indicators on their own sites. Always verify the source before downloading to avoid unsafe or poorly coded files.

Best MetaTrader Indicator Combinations

Using the best MetaTrader indicators together can make your trading strategy more reliable. Instead of crowding your chart with too many tools, combine two or three indicators that focus on different aspects; trend, momentum, and risk.

MT4 Forex Combination

XMaster Formula (entry signals) + Moving Average (trend) + ATR (risk)

• Use the XMaster Formula for entry confirmation.

• Follow the trend using a 50-period Moving Average.

• Set stop-losses at 1.5–2× the ATR value to adjust for volatility.This setup helps forex traders on MetaTrader 4 spot clean entries with built-in risk control.
   

MT5 Multi-Asset Combination

Ichimoku Cloud (trend) + MACD (momentum) + Bollinger Bands (volatility)

• Identify overall direction with the Ichimoku Cloud.

• Confirm momentum with MACD crossovers.

• Watch for Bollinger Band breakouts to time entries. This combination works best on MetaTrader 5, where traders analyze multiple assets such as indices, gold, or stocks.
   

Day Trading Setup

RSI (overbought/oversold) + Stochastic (confirmation) + Pivot Points (levels)

• When RSI and Stochastic both show oversold readings, look for bounces near daily Pivot support levels.

• In strong trends, wait for alignment with higher timeframes before entering.
  This mix gives short-term traders structure and confidence without overcomplicating their charts.
   

Risk Management Tips

• Use ATR to size stop-losses dynamically.

• Check volume or OBV for breakout confirmation.

• Verify signals on multiple timeframes to avoid false entries.

Conclusion

The best MetaTrader indicators give traders structure, clarity, and confidence when analyzing the markets. Whether you use MetaTrader 4 for forex or MetaTrader 5 for multi-asset trading, combining tools like Moving Averages, RSI, or XMaster Formula can simplify your decisions and improve consistency.

No single indicator is perfect; the goal is to use a few that complement each other and fit your trading style. Always test new setups in a demo account first to understand how they behave under real market conditions.