It is the EMA. Crossover signal indicator for MetaTrader is a customized trading indicator made with exponential moving averages to detect trends that are reversing and the best entry points for the price.
What is an EMA Crossover Signal Indicator?
The EMA Crossover indicator is a forex indicator that has red and sea green arrows that indicate buy or sell signals in the event that two moving averages with exponential sums are crossing between them. The algorithm behind the indicator uses inbuilt slower and faster EMA moving averages that react to price and the direction that the markets follow.
Additionally, the indicator’s signal is simple to understand, which makes it a good choice for intermediate and novice forex traders. In addition, it can be utilized as a confluence by experienced traders to confirm trade entries and exits. The indicator could be useful for the identification of scalping, day/intraday, and swing trading configurations.
How to Trade With the EMA Crossover Signal Indicator
The screenshot above shows what the indicator will look like on the chart of your MT4.
This indicator is ideal for a market that is trending to reduce false signals. Additionally, it is advised to use it in conjunction with other technical indicators, such as price action.
SELL and BUY indicators: Firstly, define the direction that the market is going, which in this instance is an uptrend. Wait for your indicator to draw an SEA green arrow, and then create a buy trade in line with price action (e.g., bullish engulfing). The above BUY concept can also be applied to an entry and setup for a SELL.
Conclusion
This EMA Crossover Signal indicator for MT4 produces high-quality trade setups due to its responsiveness and tracks the trend in a close manner. However, proper trading techniques (proper money management, etc.) are suggested since the indicator is at risk of generating false signals. In addition, the indicator is available to download for free.
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