The EMA Angle indicator for Metatrader 5 is powerful tool that provides robust trading signals based on exponential moving averages and angle threshold levels.
The indicator gets loaded in a separate chart window as a series of consecutive histogram bars positioned above and below 0.
To interpret this trading tool effectively, pay attention to the following guidelines:
- Histogram bars above 0 indicate a bullish market trend.
- Histogram bars below 0 indicate a bearish market trend.
The indicator allows customizing the following settings and parameters: EMA period, MA type, MA price, angle threshold, start EMA shift, end EMA shift.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
This way, you can gain confidence in its capabilities and understand its effectiveness in different market conditions.
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The picture below illustrates how the EMA Angle indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The EMA Angle Indicator?
Find a simple trading strategy below:
- A buy signal is formed when the first teal colored bar appears above 0.
- Open a buy trade and place a stop loss below the most recent swing low level.
- Exit the buy trade if the risk to reward ratio reaches a minimum of 1.0.
- Optionally, hold and reverse the buy trade when a sell signal gets displayed on the chart.
- A sell signal is formed when the first magenta colored bar appears below 0.
- Open a sell trade and place a stop loss above the most recent swing high level.
- Exit the sell trade if the risk to reward ratio reaches a minimum of 1.0.
- Optionally, hold and reverse the sell trade when a buy signal gets displayed on the chart.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the emaangle.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration