The EMA Forex Signal indicator for Metatrader 4 is based on two exponential moving averages and it delivers buy/sell signals.
- The indicator generates a buy arrow when the faster EMA crosses the slower EMA bottom-up.
- The indicator generates a sell arrow when the faster EMA crosses the slower EMA top-down.
The slower and faster EMA period can be easily adjusted by editing the indicator’s inputs.
Free Download
Download the ma2-signal-v2.mq4 indicator file (MT4)
Indicator Chart Example
The picture below shows the EMA Forex Signal indicator attached to the Euro / U.S. Dollar H1 chart.
How to use the EMA Forex Signal indicator?
The indicator can be used in multiple ways, find an example below:
Buy Signal:
- A buy signal occurs as soon as the white colored arrow appears on the chart.
- Place your stop loss below the most recent swing low.
- Exit the buy trade for a fixed take profit target or wait for a sell signal.
Sell Signal:
- A sell signal occurs as soon as the violet colored arrow appears on the chart.
- Place your stop loss the above most recent swing high.
- Exit the sell trade for a fixed take profit target or wait for a buy signal.
How to install this indicator to the Metatrader 4 platform?
- Download the ma2-signal-v2.mq4 indicator file here and save it to your computer
- Open your Metatrader 4 platform
- Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
- Click on “MQL4” and open the “Indicators” folder
- Paste the indicator file in this folder
- Restart Metatrader 4 and you’re ready to start using the indicator
How to edit the indicator?
- Attach the indicator to any trading chart of your preference
- Right click in the chart and select “Indicators List” from the drop down menu
- Select the indicator from the list and click on “Edit”
- Now you can start editing the indicator (Inputs, Colors and Visualization)
- Final step, click on the “OK” button to save the new configuration