The EMA/MA/LMWA Metatrader 4 indicator is a great Moving Averages indicator that can be used on any time frame and can be applied to trade diverse currency pairs.
It’s composed of 3 different types of Moving Averages: EMA, SMA, and LWMA.
Essentially, traders with any level of market exposure can master the EMA/MA/LMWA Forex indicator.
Its simple appearance does not in anyway dampen its price analyzing attribute.
- The indicator is basically a dim gray line that acts like a moving average type indicator.
- Pay more attention to the dim gray line and how it interacts with price, with a view of defining price support or resistance. A breakout strategy can be considered when considering support & resistance levels that were enforced using the EMA/MA/LMWA.
- The widening gap between the EMA/MA/LMWA indicator and the price bar signals denotes increasing trend strength, which is noteworthy.
Feel free to explore the EMA/MA/LMWA Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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EMA/MA/LMWA Forex Indicator Chart (GBP/USD M30 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The EMA/MA/LMWA Forex MT4 Indicator
Buy Signal: Go long when price bar opens and closes above the dim gray Forex indicator line.
When the blue 49 SMA indicator line crosses below the dim gray indicator line, with price staying fairly above the lines, it is a buy signal confirmation.
Sell Signal: Go short when price bar opens and closes below the dim gray Forex Metatrader 4 indicator line.
When the blue 49 SMA indicator line crosses above the dim gray indicator line, with price staying somewhat below the lines, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the blue 49 SMA indicator line intersects the dim gray EMA/MA/LMWA indicator line.
Exit sell trade: Close all sell orders if while a bearish trend is on course, the blue 49 SMA indicator line intersects the dim gray EMA/MA/LMWA indicator line.
Tips: The EMA/MA/LMWA indicator is a simple, yet complex trading tool that defines price action in a modest way.
When combined with other technical indicators, results become greatly improved.
The indicator can also act like a standalone trading tool, while also being integral when combining indicators to form a unique trading system.
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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.