Watch the testing video here:
Price EMAs Indicator
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.
This indicator is displayed in a separate window place just below the main trading chart.
It fits all kinds of timeframes and currency pairs.
The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
See also: iMAcol Indicator
How to set up the Price EMAs indicator in MT4?
Copy and paste the price-emas-indicator.mq4 or price-emas-indicator.ex4 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, that 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.
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