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Doda-EMA MetaTrader Indicator

Here is a MetTarder indicator developed by me based on Exponential Moving Average (EMA). This indicator gives buy, sell and exit signals based on following rules.

The rules are simple.

Buy : When EMA7 > EMA14 and EMA7 > EMA21 and EMA14> EMA21

Sell: When EMA21 > EMA7 and EMA21 > EMA14 and EMA14 > EMA7

Also, shows lines on chart on gives signals.

Shows no. of pips passed in bracket after giving signal.

Works on all currency pairs and time frames.

Recommendations:

Always use stop-loss based on your risk-profile or by another indicator like Parabolic SAR.

Cut your losses small & ride the profit long.

Download

Download MQL4 File

Download Compiled File

Doda-EMA MetaTrader Indicator
5 (100%) 2 votes
Categories: ForexIndicators
Tags: ampAveragebracketcurrencycurrency pairsDodaDownloadEMAexit signalsExponentialexponential moving averagelossesMetaTradermetatrader indicatorMetTarderMQLnbspParabolicRecommendationsriderisk profileSARsignalsignal worksstop losstimetime framesuseWorks
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View Comments (26)

  • Hi Doda
    Extremely great work you do, many thanks
    The EMA indicator does not seem to be giving me alerts as the signals appera, is this normal? or am I doing something wrong? I have several charts open and only when I shuffle between charts and timeframes does an alert appear. Does the indicator not alert us on its own?
    Many thanks
    David

  • hi - you have used the 7, 14 , 21 ema's for this indicator.
    1. what is the rationale behind this ?
    2. did you test other combinations ?
    3. what kind of results have you had on the 4H ?
    cheers.

    p.s. many thanx for your excellent work!

    • Thanks for your positive feedback. I've tested many other combinations also, but I got best results with these figures and that too on H4 time frame chart on EURUSD currency pair. Other time frame and currency pairs did not give enough good results to implement this indicator there.

      Hope it will help you.
      Admin

  • This Indicator its just amazing.. Follow with any currency in H4.. good profits.. Also I Added and script to this indicator and send the signal to tweeter.. or via email..

    • The source code of the indicator is given above. Download it and change the settings as per your need.
      Hope it will help you.
      Admin

  • i have been using your indicator for a very long time now but it seems the recently you have not updated any of the as promised please keep the flag flying thanks.

  • HI,

    I have been testing this EMA indicaor for 1 week. i notice sometime it doesnt give exit signal . example it give signal of Go long for eurusd. but the price went reverse . instead of pop up exit buy . it show go short directly ?

    Is there anyway to filter out false signal ?

    Thanks for the indicator and keep up the good work

    Cheers

    Vincent

  • Hi,

    I have some doubts which I hope you could help me to clarify. This morning, there was this signal to go Long for USDJPY. In less than 45 mnts it gives another signal to go Short. However, the Long never indicate to exit. So should I exit the long?