The double EMA Forex signals indicator for Metatrader 4 is a popular trend-following crossover buy & sell signal indicator that works.
It’s based on the crossover of two exponential moving averages with different period.
Better known as the fast and slow exponential moving average (EMA).
The EMA crossover signal rules are clear and very simple to understand for everyone:
- A buy signal occurs when the faster moving average crosses up the slower moving average from below.
- A sell signal occurs when the faster moving average crosses down the slower moving average from above.
Feel free to experiment with different EMA period values.
Deploy the indicator for any trade style, including scalping, day trading and swing trading.
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Double EMA Forex Signals Indicator Chart
Here’s an example of how the Double EMA Forex Signals 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 Double EMA Forex Signals Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Buy the pair when both EMA’s turn green color from red. The overall trend turned now bullish.
A stop loss can be placed slightly below the previous swing low support, or use your own stop loss strategy.
Exit the double EMA buy trade when an opposite sell signal appears on the trading chart (close and reverse position), or exit the buy trade at a fixed profit target of 2:1 reward:risk or better.
Sell Trigger: Sell the pair when both EMA’s turn red color from green. The overall trend turned now bearish.
A stop loss can be placed slightly above the previous swing high resistance, or use your own stop loss strategy.
Exit the double EMA sell trade when an opposite buy signal appears on the trading chart (close and reverse position), or exit the sell trade at a fixed profit target of 2:1 reward:risk or better.
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Fast EMA period, slow EMA period, mode, price, signal bar, alerts message, alerts email, alerts mobile, 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,…)
- 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: moving average
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.