The Juice EMA Deviation Advanced Metatrader 5 forex indicator displays whether the level of standard deviation is above or below some desired level.
It reveals if the market is in sessions of increased or decreased volatility.
Instead of using fixed levels, the Juice EMA Deviation Advanced indicator uses an average EMA deviation over a specified period as a level.
In so doing, the indicator is independent of time frame or symbol.
The Juice EMA Deviation Advanced indicator is best used to determine periods of increased or decreased volatility, and not as a directional indicator.
The EUR/USD H1 chart below displays the Juice EMA Deviation Advanced Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the line of the Juice EMA Deviation Advanced Metatrader 5 forex indicator turns lime green with a shadow below the line. Place a protective stop-loss below the previous swing low level.
Sell Signal: Go short when the line of the Juice EMA Deviation Advanced Metatrader 5 forex indicator turns orange with a shadow sitting above the line. Place a protective stop-loss above the previous swing high level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the line of the Juice EMA Deviation Advanced indicator turns orange.
Exit sell trade: Close all sell orders if while a bearish trend is running, the line of the Juice EMA Deviation Advanced indicator turns lime green.
Tips: The levels on the Juice EMA Deviation Advanced indicator are arbitrary, therefore it varies from currency pair to currency pair, and time frame to time frame.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable [Juice period, Average deviation period (<= 1 for same as juice period), Price], 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 Juice ema deviation – advanced.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)