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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)