The Super EMA MT4 forex indicator consists of a fast EMA and slow EMA (exponential moving average).
A rising Super EMA represents an uptrending market. Forex traders look for buy trade opportunities.
A declining Super EMA represents a downtrending market. Forex traders look for sell trade opportunities.
Trading the indicator:
Don’t use the indicator in isolation, instead combine with other technical indicators.
For instance, use together with the 100 EMA or 100 SMA. This creates a typical moving average crossover system.
- Buy the forex pair when the shorter period moving average crosses above the longer period moving average from below.
- Sell the forex pair when the shorter period moving average crosses below the longer period moving average from above.
Feel free to experiment with the default Super EMA indicator parameters.
The GBP/USD 1-Hour chart below displays the Super EMA Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Super EMA MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Initiate a buy order when price crosses and closes above the Super EMA indicator from below. A stop-loss should be placed below the red Super EMA line.
Sell Signal: Initiate a sell order when price crosses and closes below the Super EMA indicator from above. A stop-loss should be placed above the red Super EMA line.
Trade Exit : Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (long period, short period, extra time forward) 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 super-ema-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)