The Predictive EMA indicator designed for Metatrader 5 is a solid trend forecasting tool composed of a special exponential moving average.
The buy and sell trading rules are easy to understand, follow the guidelines below:
- A buy signal is created when price climbs above the predictive EMA line.
- A sell signal is created when price falls below the predictive EMA line.
The indicator contains the following variables and parameters: short period, long period, extra time forward.
Feel free to experiment with the EMA long and short trading period.
Make yourself familiar with the Predictive EMA indicator and test it first on a demo account before applying it to a real trading account.
Tip for scalpers and daytraders:
The Predictive EMA indicator yields optimal trading results when utilized during the trading sessions in London and New York.
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The picture below illustrates how the Predictive EMA indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs Utilizing The Predictive EMA Indicator?
Find a simple trading example below:
- A buy signal is given when the candlestick crosses the predictive EMA bottom up.
- Execute a buy trade and set a stop order below the most recent swing low price.
- Close the buy trade for a fixed take profit target, or hold and wait for a sell signal.
- A sell signal is given when the candlestick crosses the predictive EMA top down ( see chart example above).
- Execute a sell trade and set a stop order above the most recent swing high price.
- Close the sell trade for a fixed take profit target, or hold and wait for a buy signal.
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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 emapredictive3.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