The EMA Levels indicator for Metatrader 5 is based on exponential moving averages and delivers beginner friendly trend trading signals.
The indicator gets displayed in the price chart as a colored signal line that provides the actual buy and sell signals.
How does the EMA Levels indicator deliver its signals?
- The green colored thick line displays an uptrend (buy signal).
- The orange colored thick line displays a downtrend (sell signal).
- The gray colored thick line displays a neutral trend.
The indicator contains the following inputs and parameters: EMA period, line colors and style.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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The following chart shows how the EMA Levels indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The EMA Levels Forex Indicator?
Find a simple trading example below:
- A buy signal occurs when the green thick signal line gets displayed in the chart.
- Enter a long trade and place your stop loss order below the green dotted line.
- Exit the buy trade for a fixed profit target or wait for the orange colored thick line (bearish trend reversal).
- A sell signal occurs when the orange thick signal line gets displayed in the chart.
- Enter a short trade and place your stop loss order above the orange dotted line.
- Exit the short trade for a fixed profit target or wait for the green colored thick line (bullish trend reversal).
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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 Ema levels.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