Introduction to the Price EMAs Indicator
The Price EMAs Indicator displays the distance between the open price and 3 different periods exponential moving averages (EMAs) in pips. The default periods of MAs are 10, 50, and 200. The general idea behind that gauge is to define market trends and the formula is pretty simple. When the green MA is above blue MA, and the blue MA is above red MA, it means there is a bullish trend. Similarly, when the green MA is below blue MA, and the blue MA is below red MA, it means there is a bearish trend. Other setups mean the trend is undecided.
The Price EMAs Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Price EMAs indicator in MetaTrader (MT4)?
Download the Price EMAs.rar archive at the bottom of this post, unpack it, then copy and paste the Price EMAs.ex4 or Price EMAs.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Price EMAs indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 Price EMAs Indicator
To download the Price EMAs Indicator for Metatrader 4 (MT4) for free just click the button below: