Double EMA Trading Metatrader 4 Forex Indicator

The Double EMA Trading indicator for MT4 consists of two exponential moving averages with period set at 144 and 169 respectively.

The two EMA’s indicator creates a trading channel with bullish and bearish bias.

Signals from this Metatrader4 indicator are easily to spot:

Price action above the 2 EMA channel indicates price is bullish and traders look to open a buy trade.

Price action below the 2 EMA channel indicates price is bearish and traders look to open a sell trade.

The default EMA periods are set to 144 and 169 but can be changed to whatever you need.

The Double EMA Trading indicator can be used as a standalone forex indicator or mixed with other technical indicators.

For scalping purposes, use it on 5-minute charts during the most volatile trading sessions.

Free Download

Download the begashole-indicator.mq4” MT4 indicator

Example Chart

The EUR/USD 1-Hour chart below displays the Double EMA Trading Metatrader 4 Forex indicator in action.

Basic Trading Signals

Signals from the Double EMA Trading MT4 forex indicator are easy to interpret and goes as follows:

Buy Signal: Open a buy trade position when price breaks and closes above both EMA’s from below.

Sell Signal: Open a sell trade position when price breaks and closes below both EMA’s from above.

Trade Exit: Use your own method of trade exit.

Download

Download the begashole-indicator.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (EMA period 1, EMA period 2) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: trend

Installation

Copy and paste the begashole-indicator.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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