The EMA Trend Catcher indicator for Metatrader 5 consists of two moving averages and delivers a buy or sell signal when the trend reverses its direction.
The basics explained:
- Essentially, when the shorter MA crosses above the longer MA, this creates a buying opportunity (blue-colored arrow).
- Vice versa, when the short MA crosses below the longer MA, this creates a selling opportunity (red-colored arrow).
The indicator includes several inputs and parameters, such as MA short period, MA long period, alerts ON, mobile notification, and more.
Becoming familiar with this technical indicator and thoroughly testing it on a demo account for an extended period is advisable.
Download Indicator 🆓
The picture below illustrates what the EMA Trend Catcher indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs Trading With The EMA Trend Catcher Indicator?
Find a simple trading strategy below:
- A buy signal is generated when the blue-colored arrow is displayed on the chart.
- Execute a buy market order and place a stop loss below the previous swing low point.
- Close the buy trade for a fixed take profit target of your preference.
- Alternatively: await a sell arrow to close the buy trade.
- A sell signal is generated when the red-colored arrow is displayed on the chart.
- Execute a sell market order and place a stop loss above the previous swing high point.
- Close the sell trade for a fixed take profit target of your preference.
- Alternatively: await a buy arrow to close the sell trade.
Download Now 🆓
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 Ganesha Trend Viewer MT5.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 on the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on the properties
- Now you can edit the inputs, colors, levels, scale, and visualization
- Finally, click the OK button to save the new configuration