Forex Indicators List for MT4: 16 of 21 Rules Ship With MetaTrader, the Built-Ins Passed 6 of 64 Runs and the Downloads 0 of 20

This is the practical half of the ranked forex indicators list: where to find each indicator in MetaTrader 4, which settings I tested, and what the results say about building your own chart template.

Which indicators are already in MT4?

Open them from Insert > Indicators or drag them from the Navigator (Ctrl+N) onto the chart. Heikin Ashi is spelt Heiken Ashi in MT4 and lives in the Examples folder. The two settings to watch are Stochastic and CCI: I tested the 14-period versions most guides use, not the MT4 defaults. How Stochastic settings change the result is in Stochastic settings for MT4.

Which ones do you need to download?

All five are free on the MQL5 Code Base. Download the .mq4 or .ex4 file, put it in File > Open Data Folder > MQL4 > Indicators, and restart MT4 or right-click Refresh in the Navigator. The full steps are in how to install an MT4 indicator. Four of these five were rebuilt and tested on their own in free MQL5 indicators tested, where 0 of 16 runs passed.

Did the built-ins or the downloads do better?

Same exit for all: stop 1.5 ATR, target 3 ATR, 48 bars at most, one trade at a time; 1 pip on EURUSD and $0.30 on gold. EURUSD and gold, M5 and M15, June to August 2026. Pass means profit after cost, in both halves and above the 95th percentile of random entries.

The share of runs in profit was the same, a quarter for each group, but the built-ins ranked higher on average and all six passes on the list came from them. Supertrend had the best average rank of the downloads, 7.5, but passed nowhere. That is not a case against downloads: it is a case against paying for one, or installing ten, because the built-ins in the list above already cover the same logic.

Can you pick the best indicator from past data?

This is what you do when you scroll through backtests and keep the best three. Split at July 15; ranks out of 21; results in pips or dollars a trade after cost.

4 of 12 picks stayed in the top 3, against about 2 you would expect by luck, and 6 of 12 made money in the second half. On EURUSD M5 all three picks still lost. RSI 30/70 made the first-half top 3 on three charts and then finished 21st on gold M5 and 12th on EURUSD M15. A strong first half was a weak hint at best. The same thing happened with settings in optimized vs default settings.

How should you set up your MT4 template?

1. Choose the chart first. On EURUSD M5 none of 21 rules beat a 1 pip spread. On M15 the cost is about a quarter of an ATR instead of half.
2. One trend indicator, not five. Moving averages, MACD, DMI and Ichimoku crosses largely signal the same turns. The EMA 9/21 cross was the only rule to pass twice.
3. Use the defaults unless you have tested a change. ADX settings are in ADX settings for MT4, moving averages in moving average settings for MT4.
4. Save it: right-click the chart, Template > Save Template, so the same setup loads on every chart you test.
5. Test the exit with the entry. Every number here uses a 1.5 ATR stop and a 3 ATR target. A different exit gives a different list.

Frequently asked questions

Which forex indicators come with MT4?

Moving Average, MACD, Parabolic SAR, RSI, Stochastic, Bollinger Bands, ADX, Ichimoku, CCI, Williams %R and Heiken Ashi, among others. 16 of the 21 rules I ranked use them.

Are paid or downloaded indicators better than the built-in ones?

The five free downloads passed 0 of 20 runs against 6 of 64 for the built-ins. Nothing here suggests a download adds an edge.

What Stochastic setting is the MT4 default?

5, 3, 3. I tested 14, 3, 3 crossing inside 20 and 80, which is what most guides use.

Where do custom indicators go in MT4?

File > Open Data Folder > MQL4 > Indicators. Then restart MT4 or refresh the Navigator.

Can I use these settings on MT5?

Yes, the same indicators exist in MT5 with the same defaults; adding them is covered in how to add indicators to MT5.