The Triple Exponential Moving Average indicator for Metatrader 4 enables traders to find buy & sell trades based on 3 EMAs.
The indicator appears in the main MT4 chart window as a blue and red colored signal line.
All EMA values can be fully modified to suit your preferences.
The 3 EMA technical indicator can be used by both beginners and seasoned traders and is non-repainting in nature.
Buy & Sell Trade Example
- Open a buy trade as soon as the blue colored 3 EMA signal line gets printed on the chart.
- Open a sell trade as soon as the red colored 3 EMA signal line gets printed on the chart.
The indicator can be used for both trade entry and exit or as an additional moving average indicator trend filter.
Free Download
Download the “Triple exponential moving average.mq4” indicator for MT4
Indicator Chart (EUR/USD M5)
The example chart below displays the Triple Exponential Moving Average mt4 indicator in action on the trading chart.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown above.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the EMA Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Moving average
Does the indicator repaint? No.
Triple Exponential Moving Average + Best Forex Scalping Indicator MT4 Strategy
This scalping system uses the Triple Exponential Moving Average Indicator for MT4 in its trend-identification role and the Best Forex Scalping Indicator for MT4 as the trigger based on buy/sell
arrow signals.
The logic is simple: trade with the direction of the trend (blue TEMA line = up, red TEMA line = down) and wait for a precise arrow signal (blue arrow = buy, red arrow = sell) to pull the trigger.
This setup works best on M5 and M15 charts, where price movements are frequent, and is suited for traders who prefer quick entries and exits rather than holding positions for extended periods.
If you’re comfortable with making fast decisions and taking on short-term risk, this is a good fit.
How it Works
The Triple Exponential Moving Average (TEMA) is a smoothed moving average designed to reduce lag and follow price more closely than a standard EMA.
When the TEMA line turns blue, it signals an upward trend; when red, it signals a downward trend.
The Best Forex Scalping Indicator displays discrete arrows: a blue arrow signals a buy opportunity, a red arrow signals a sell.
By combining the trend filter from the TEMA and the precise entry from the arrow indicator, you get a clear and concise scalping system with fewer false entries.
Buy Entry Rules
- Ensure the TEMA line is blue, indicating a bullish trend.
- Wait for the scalping indicator to show a blue arrow, signaling a buy entry.
- Enter a buy at the close of the candle that printed the blue arrow.
- Place a stop loss beneath the recent swing low (for example, 8–12 pips on M5, or 12–18 pips on M15, depending on pair volatility).
- Set a take profit target of about 15–25 pips (on M5) or 25–40 pips (on M15).
- Alternatively, you can trail the stop once the trade moves in your favour by about half your target size.
Sell Entry Rules
- Ensure the TEMA line is red, indicating a bearish trend.
- Wait for the scalping indicator to show a red arrow, signaling a sell entry.
- Enter a sell at the close of the candle that printed the red arrow.
- Place a stop loss above the recent swing high (again 8–12 pips on M5, 12–18 pips on M15 depending on pair volatility).
- Set a take profit target of about 15–25 pips (M5) or 25–40 pips (M15), or use a trailing stop once the price moves favourably by half the target.
Advantages
- Clear trend filter and precise entry give strong trade setups.
- Simple rules, easy to apply and repeat across multiple pairs.
- Scalping style means smaller risk per trade and frequent opportunities.
- Less subjectivity — the color of the TEMA line and the arrow signal make the decision-making.
- Good for fast-moving markets where quick entries and exits are needed.
Drawbacks
- Scalping requires discipline and quick reaction — not ideal for passive traders.
- Risk of false arrows when the trend changes or the market is sideways — filtering is still required.
- Requires good broker execution, minimal slippage, and low latency to scale effectively.
Case Study 1 – USD/CHF M5
On USD/CHF during a London session, the TEMA line turned blue at 0.9271 and stayed blue across the next three full candles.
At candle close, a blue arrow from the scalping indicator appeared at 0.9278.
A buy was entered at 0.9278 with a stop loss at 0.9266 (12 pips) and a take profit set at 0.9293 (15 pips).
Within 20 minutes price hit the target, resulting in +15 pips profit.
The trend remained blue, and the next blue arrow setup produced another +18 pips before the TEMA turned red.
Case Study 2 – AUD/NZD M15
On AUD/NZD, the TEMA line turned red at 1.0825 during the early New York session and remained red for the next hour.
A red arrow appeared at 1.0818 signaling a sell entry.
Sell entered at 1.0818 with stop loss at 1.0832 (14 pips) and take profit at 1.0793 (25 pips).
Price hit the take profit after around 35 minutes, yielding +25 pips.
Later, another red arrow was printed, another trade gave +22 pips before the trend line flipped back to blue.
Strategy Tips
- Avoid trading when the TEMA line is rapidly flipping between blue and red — that signals range or indecision.
- Pair the strategy with currency pairs that have favourable spreads and liquidity (majors like EUR/USD, USD/JPY, GBP/USD, or cross-pairs with good volume).
- Consider trading only during the first 3–4 hours of the major sessions (London, New York) when volatility is higher and scalping opportunities are frequent.
- Monitor spread and execution cost – if spread and slippage eat more than half your target, skip that pair or timeframe.
- Backtest the system on each pair for at least 50 trades and track your win-rate and average pip gain/loss to ensure it fits your style and broker conditions.
By combining the trend-clue from the TEMA via the Triple Exponential Moving Average Indicator and the precise trigger from the Best Forex Scalping Indicator, you create a disciplined, rule-
based scalping system on MT4 that can generate consistent short-term profits when applied with proper risk management and discipline.
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Download the “Triple exponential moving average.mq4” indicator for Metatrader 4
