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Ema Crossover Signal

The EMA Crossover Signal indicator for MT4 displays buy/sell arrows on the chart when the EMA crossover. It is a great way to identify entry and exit points for traders and can be used to make profitable trades.

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Description

The EMA Crossover Signal indicator for MT4 is a simple Forex trading tool that displays buy and sell signal arrows based on the crossover of the EMA. It helps traders catch the beginning of a trend reversal and identify the market’s direction.

So, Forex traders can use the indicator’s signals to catch bullish and bearish trend reversal trading opportunities. Besides, identifying trend reversal and market direction, the indicator also helps identify potential trend continuation setups, especially in a trending market. This enables traders to find optimal entry zones to join an already-established trend.

Features of the EMA Crossover Signal Indicator for MT4

The indicator generates buy and sell signals whenever the faster EMA crosses the slower EMA to the upside or downside. Thus, it displays a green arrow (buy signal) when the faster EMA crosses above the slower EMA, suggesting a potential bullish trend reversal or continuation. Conversely, the indicator displays a red arrow (sell signal) when the faster EMA crosses below the slow EMA, suggesting a possible bearish reversal or continuation.

Therefore, traders can look for buying or selling opportunities when the indicator displays a green or red arrow. Additionally, the indicator can be used as a trading confluence with price action or other technical indicators to make objective trading decisions.

Benefits of Using the Indicator

  • Trend Identification/Reversals: The indicator displays signal arrows, depicting potential trend direction/early reversals. This makes it easy for traders to identify the possible direction of the market and make trading decisions accordingly.
  • Trading Confluence: The indicator’s buy and sell arrows can be used as a confirmation tool with price action/other technical indicators to improve trading decisions.

Indicator Settings Description

The indicator comes with the following customizable settings:

FasterEMA: Defines the period for calculating the faster EMA.

SlowerEMA: Defines the period for calculating the slower EMA.

SoundON: Enables/Disables sounds when the EMA crossover.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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