Nema – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • NEMA indicator – that calculates depth (offspring) of EMA of arbitrary “depth”.

    Nema
    can calculate all the known variations (offspring) of EMA : EMA, DEMA, TEMA, … DecEMA, … and so on, up to “levels” or “depth” 50 (whatever
    name it would be)

    Some known depths :

    • 1 -> EMA
    • 2 -> DEMA
    • 3 -> TEMA
    • ….
    • 10 -> DecEMA
    • ….
    • 50 -> the maximal depth calculated by this indicator

    If the depth is set to 1, NEMA is equal to EMA, for depth 2 it is equal to DEMA, for depth 3 it is equal to TEMA and so on …, up to depth 50. In any case, depths over 40 are — due to the way how internal calculation is done, are losing precision too much and unlike the lower depths, should be used for with extreme care and with reserve. Also, as a deviation from EMA (and DEMA and TEMA…) this indicator allows fractional period for calculation (there is no reason whatsoever why any EMA-type indicator should use only integer bound calculation period)

    On the example picture are the first 3 (EMA, DEMA and TEMA) using default parameters only the depth is set to 1, 2 and 3.

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  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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