The 34 EMA Forex dashboard MT4 indicator is an awesome trend trading dashboard indicator that gives a quick and accurate overview of existing trends for multiple currency pairs and time frames.
The MTF trends are based on the 34 exponential moving average and the buy/sell trade logic goes as follows:
- A buy trend (blue up arrow) occurs when price is trading above the 34 EMA.
- A sell trend (red down arrow) occurs when price is trading below the 34 EMA.
Useful dashboard functions
You can add or remove currency pairs (or any other MT4 symbol of your preference) by editing the dashboard’s inputs menu.
You can choose the dashboard time frames from M1 up to the monthly chart.
Change the X and Y dashboard position on the chart.
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34 EMA Forex Dashboard Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With 34 EMA Forex Dashboard Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Buy the currency pair when the 34 EMA Forex Dashboard displays a buy arrow for the current time frame and the 34 EMA trend is positive as well for most other time frames. This indicates a strong uptrending market.
Place stop loss 3 pips below previous swing low support, or use your own stop loss placement method.
Close the buy trade for a reward to risk 1.5:1 ratio or better, or use your own favorite take profit method.
Sell Trigger: Sell the currency pair when the 34 EMA Forex Dashboard displays a sell arrow for the current time frame and the 34 EMA trend is negative as well for most other time frames. This indicates a strong downtrending market.
Place stop loss 3 pips above previous swing high resistance, or use your own stop loss placement method.
Close the sell trade for a reward to risk 1.5:1 ratio or better, or use your own favorite take profit method.
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Pairs to trade, periods to trade, PDI, colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, RSI,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.