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3 EMA’s Metatrader 4 Forex Indicator

The 3 EMA’s forex indicator is a trend following forex system that is visible in a separate window below the main activity chart.

This is a very popular trading system indicator to trade the majors, currency cross pairs and exotics.

It’s quite simple to understand how this exponential moving average system works:

The 3 EMA’s system indicator consists of 3 ema’s, one with short period (set at 10), one with medium period (set at 50) and one with longer period (set at 200).

Buy signal:

When the short EMA is aligned above the medium and long term EMA AND the medium is aligned above the long term EMA, this creates a buy signal.

Sell signal:

Conversely, when the short EMA is aligned below the medium and long term EMA AND the medium is aligned below the long term EMA, this creates a sell signal.

You can use the 3 EMA’s system indicator for any currency pair and timeframe.

Free Download

Download the price-emas.mq4” MT4 indicator

Example Chart

The EUR/USD H1 chart below displays the 3 EMA’s forex indicator in action.

Basic Trading Signals

Signals from the 3 EMA’s forex indicator are easy to interpret and goes as follows:

Buy Signal: See description above on how to open a buy trade with 3 EMA’s.

Sell Signal: See description above on how to open a sell trade with 3 EMA’s.

Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.

Download

Download the price-emas.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern

Customization options: Variable (EMAShortPeriod, EMAMediumPeriod, EMALongPeriod) Colors, width & Style.

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

Type: Price

Installation

Copy and paste the price-emas.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)