EMZ Ease Of Movement Metatrader 4 Forex Indicator
The EMZ Ease of Movement Metatrader 4 forex indicator is a blue colored EMZ trading oscillator.
It’s an oscillator type forex indicator that generates a bullish and bearish trading area.
Values above the zero level are said to be bullish while values below the zero level are said to be bearish.
The EMZ oscillator does not produce good results on its own, it needs to be traded in conjunction with a trend following technical indicator.
Good forex trend indicators include: SMA, EMA, PSAR, Bollinger Bands, Envelopes,…
The trend following indicator gives us the overall trend direction, either up or down.
Use the EMZ oscillator to trade in the direction of the overall trend.
See more down below how to trade with the EMZ.
The GBP/USD Hourly chart below displays the EMZ Ease of Movement Forex Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the EMZ Ease of Movement MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade when the EMZ Ease of Movement indicator crosses and closes above the 0.00 line from below AND the overall trend must be up.
Sell Signal: Open sell trade when the EMZ Ease of Movement indicator crosses and closes below the 0.00 line from below AND the overall trend must be down.
Trade Exit: Close the open buy/sell forex position when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (EMZ Period, Min Value, Max Value) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the ease-of-movement.mq4 indicator 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)