The Forecast Double Exponential Smoothing Moving Average for MT4 forecasts future currency prices before they even happen.
It’s an advanced forecast Forex indicator that provides you with buy and sell trading signals and a forecast price line.
The forecast price line can give you an indication whether you should keep the trade open or close it for profit.
The signals itself appear as a single dual colored line on the main activity chart.
Just load the Forecast Double Exponential Smoothing Moving Average indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- A green signal line represents an uptrending currency market.
- An orange signal line represents a downtrending currency market.
- Utilize on any currency pair and time frame of your preference.
- Forecasts future currency prices.
Feel free to explore the Forecast Double Exponential Smoothing Moving Average indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “double-exponential-smoothing.ex4” Metatrader 4 indicator
Indicator Example Chart (EUR/USD D1 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 Forecast Double Exponential Smoothing Moving Average MT4 Forex Indicator
Buy Signal: Open a buy order when the Forecast Forex indicator changes its signal line color from orange to green. The trend is now bullish.
Place your stop loss a few pips below the previous swing low price, or use your own favorite stop loss method.
Exit the trade when the signal line turns back to orange color (sell signal), or use your own favorite take profit method.
Alternatively, close the trade for a reward/risk ratio of 1.5 or better.
Sell Signal: Open a sell order when the Forecast Forex indicator changes its signal line color from green to orange. The trend is now bearish.
Place your stop loss a few pips above the previous swing high price, or use your own favorite stop loss method.
Exit the trade when the signal line turns back to green color (buy signal), or use your own favorite take profit method.
Alternatively, close the trade for a reward/risk ratio of 1.5 or better.
Download This Forex Indicator Now
Download the “double-exponential-smoothing.ex4” MT4 indicator
Adjustable Parameters
Estimate period, trend period, price, forecast bars, alerts, colors, width, style.
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
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
