The Squize EMA Signal Metatrader 4 forex indicator is a combination of two exponential moving averages wrapped around each other.
The blue line is a 5-period exponential moving average by default, while the red line is a 20-period exponential moving average.
The crossing of these lines triggers a buy/sell trading signal depending on its positioning.
The 5-period EMA and 20-period EMA are significant moving averages, as a result of their peculiar design that allows them respond quickly to price changes.
This invariably suggest that the Squize EMA Signal indicator is very responsive in gauging the overall direction of future price.
The GBP/USD H1 chart below displays the Squize MA Indicator Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the red line of the Squize EMA Signal indicator crosses the blue line in a bottom up manner.
Sell Signal: Go short when the red line of the Squize EMA Signal indicator crosses the blue line in a top downward fashion.
Exit buy trade: Close all buy orders if while a bullish trend is running, the Squize EMA Signal indicator intersects.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Squize EMA Signal indicator crosses.
Tips: There are multiple ways to use this MT4 indicator. For example as part of a forex trading strategy or as a standalone trading tool.
During buy/sell trading signals, the wider the distance between the moving average lines, the stronger the trend in focus.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (MaDifrential, Ma1Type, Ma1Price, Ma1Period, Ma2Type, Ma2Price, Ma2Period), 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 squize-ma-indicator.ex4 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)