Price - EMAs indicator shows the distance between the open candle's price and three different exponential moving averages (EMAs) in pips. The difference is projected in data window at a bottom of a chart. The indicator is compatible with all time-frames an all charts.
Customization
It is possible to have up to three different EMAs projected at the same time. To have less, simply choose the color of a drawn EMA to "none" in order to erase it. A function to add levels on an indicator window is also available. The feature allows for a more precise evaluation of the price difference.
Trade
One of the trade ideas could be an assumption that after a certain price rally from an exponential moving average, the price will need to take a "breather" and return back to the trending EMA. After some backtesting, the critical level range could be identified and placed on the indicator window as a resistive level. Also, if the EMAs fluctuate above a neutral 0 level, it could be assumed that the sentiment is to the bullish side and vise versa. A further combination of RSI or other indicators is also possible.
How to Install Price - EMAs indicator on MT4 Platform
How to install your indicator on MT4 platform:
1. Click on Download button below;
2. Save the file to your computer;
3. Move the .mq4 files into the following folder : meta traderexpertsindicators;
4. Restart your Metatrader platform;
5. Click the “Indicators” button in Metatrader toolbar;
6. Select “Custom”;
7. Search and select “Price - EMAs”;
8. Adjust settings or press OK to add the indicator to your selected chart;
Note: Price - EMAs indicator is developed by Inovance and was sent by an AtoZ Markets follower from Germany, Alfred. AtoZ Markets does not carry any copyrights over this trading tool.
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