MA Ribbon Indicator for MT4 and MT5

Written by Dominic Walsh · Published 15 Jun 2026 · Last updated 24 Sep 2026

Six averages tell a clearer story than two. The ma ribbon indicator draws exponential averages at eight, thirteen, twenty-one, thirty-four, fifty-five and eighty-nine bars, each in its own colour. It reports the first bar on which all six sit in perfect order.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	6: EMA 8, EMA 13, EMA 21, EMA 34, EMA 55, EMA 89
Alerts	popup
Inputs	8

What the build actually draws

Six lines, all on price.

`EMA 8` traces red as the quickest.

`EMA 13` runs orange and `EMA 21` gold.

`EMA 34` runs lime green beside them.

`EMA 55` traces dodger blue.

`EMA 89` traces medium purple as the slowest.

• EMA 8: line, red, width 2
• EMA 13: line, orange, width 2
• EMA 21: line, gold, width 2
• EMA 34: line, lime green, width 2
• EMA 55: line, dodger blue, width 2
• EMA 89: line, medium purple, width 2

How the numbers arrive

Fibonacci lengths

`InpPeriod1` `8` through `InpPeriod6` `89` follow the sequence. Each step is roughly one and a half times the last, so the six cover a wide span evenly.

One price for all

`InpAppliedPrice` `PRICE_CLOSE` feeds every line. Changing it shifts all six together, which keeps their order comparable.

The stack test

All six must line up in order, quickest on top for a rising stack. The report fires only on the first bar where that order appears.

How to watch it

Red on top, purple at the bottom, means a rising stack.

The reverse order means a falling one.

Anything in between means no agreement yet.

Only the first bar of a new stack reports.

Wide gaps between lines mean a strong trend.

Warm-up needs eighty-nine bars.

Alert channels in this build: popup, one message per closed bar.

`InpEnableAlert` `true` raises a terminal message on the first bar of a complete stack in either direction. That terminal message is the only destination here, since no other route exists in the panel.

Every MA Ribbon Indicator input

Core settings

Setting	What it does	Default
InpPeriod1	Quickest length, `8`.	8
InpPeriod2	Second length, `13`.	13
InpPeriod3	Third length, `21`.	21
InpPeriod4	Fourth length, `34`.	34
InpPeriod5	Fifth length, `55`.	55
InpPeriod6	Slowest length, `89`.	89
InpAppliedPrice	Price every line reads, `PRICE_CLOSE`.	PRICE_CLOSE

Alert settings

Setting	What it does	Default
InpEnableAlert	Report a new full stack, `true`.	on

Home chart

An eighty-nine bar slow end needs a chart with history behind it. EURUSD H1 is the reference chart, where a full stack forms a few times a month. On M5 stacks come and go. On D1 one stack can hold for a season.

The rough edges

A full stack forms well into a move.

All six lag the price that shapes them.

In a range the order rarely completes.

Six lines crowd a busy chart.

Copy the compiled MA Ribbon Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Background reading on the method behind the MA Ribbon Indicator: Moving Average Ribbon at StockCharts ChartSchool, Fibonacci sequence on Wikipedia.

Download the MA Ribbon Indicator for MT4 and MT5

The zip holds the compiled MA Ribbon Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

What order does InpEnableAlert wait for?

All six lines stacked by length, with `EMA 8` on top and `EMA 89` at the bottom for a rising stack. It reports only the first bar of that order, not every bar it holds.

Why do InpPeriod1 to InpPeriod6 follow Fibonacci?

Each step grows by roughly half, so the six lines cover short, medium and long horizons evenly. None of them bunch together at one end, which keeps the gaps between lines easy to read.

What does InpAppliedPrice change?

The price that all six averages read. Switching it moves every line together, so the stack order still compares like with like, and the report logic works the same way on any price choice.

Why does EMA 89 make the stack arrive late?

Because the slowest line needs a lot of movement to fall into order. By the time `EMA 89` agrees, the trend has usually been running for a while.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the MA Ribbon Indicator as one input. Always backtest before trading live.