Hma Mega Trend
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EMA Trend

Are you a forex trend trader? EMA Trend MT4 Indicator plots 4 EMAs to identify the forex trend direction and provides profitable buy and sell trading signals. The slope helps in technical analysis and to filter the uptrend and downtrend. Download this indicator now and start trading.

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Description

The EMA Trend MT4 indicator calculates 4 moving averages and plots them on the forex price chart. It calculates a slow EMA using the high prices and another by low prices. Additionally, it uses the high prices to calculate a fast EMA and another with low prices. These 4 moving averages help forex traders to identify the trend direction and trade them successfully.

Features of EMA Trend MT4 Indicator

The indicator displays both fast EMA in purple and the both slow EMA in yellow on the price chart. By default the fast EMA period is 21 and the slow EMA is 34. Forex technical traders should adjust these values to accommodate their trading style. Generally, higher moving average periods tend to provide longer trend trading signals.

If the price moves higher than the 4 moving averages it indicates a bullish market. So, traders should enter the market with buy trades. Oppositely, price movement below all moving averages shows a strong bearish market and warrants a sell position. However, traders should confirm these signals with the slope of these lines. A positive slope indicates an uptrend while a negative one shows a downtrend. So, traders should combine the price and the 4 moving average lines and use the slope as a filter for profitable forex trend trading.

Benefits of EMA Trend MT4 Indicator

This indicator is suitable for new and advanced forex traders and suitable for all trading styles.

Generally, EMAs are more sensitive than the regular simple moving averages. So, the indicator provides bullish and bearish forex trading signals earlier than the simple moving average indicator.

Furthermore, this indicator acts as a filter for trend trading strategies. So, this indicator is suitable to formulate automated trading strategies.

Indicator Settings Description

FastMAPeriod:, SlowMAPeriod: Period for fast and slow moving average calculation.

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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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