The EMA Angle indicator for Metatrader 5 is a powerful tool that provides robust trading signals based on exponential moving averages and angle threshold levels.
The indicator gets loaded in a separate chart window as a series of consecutive histogram bars positioned above and below 0.
To interpret this trading tool effectively, pay attention to the following guidelines:
- Histogram bars above 0 indicate a bullish market trend.
- Histogram bars below 0 indicate a bearish market trend.
The indicator allows customizing the following settings and parameters: EMA period, MA type, MA price, angle threshold, start EMA shift, and end EMA shift.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
This way, you can gain confidence in its capabilities and understand its effectiveness in different market conditions.
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Chart Example
The picture below illustrates how the EMA Angle indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The EMA Angle Indicator?
Find a simple trading strategy below:
Buy Signal
- A buy signal is formed when the first teal colored bar appears above 0.
- Open a buy trade and place a stop loss below the most recent swing low level.
- Exit the buy trade if the risk to reward ratio reaches a minimum of 1.0.
- Optionally, hold and reverse the buy trade when a sell signal gets displayed on the chart.
Sell Signal
- A sell signal is formed when the first magenta colored bar appears below 0.
- Open a sell trade and place a stop loss above the most recent swing high level.
- Exit the sell trade if the risk to reward ratio reaches a minimum of 1.0.
- Optionally, hold and reverse the sell trade when a buy signal gets displayed on the chart.
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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 emaangle.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