3 EMA Crossover Indicator for MT4
The 3 EMA Crossover Indicator for MT4 is an Exponential Moving Average indicator based trading system built for traders using the Meta Trader 4 charting software. This system was built to assist traders in finding out exactly what the trend is and following it, getting a trader in a trade as long as the trend is in place and getting them out of the trade as soon as the trend is no longer aligned using all of its constituent indicators.
This works because the Exponential Moving Average is by default, an indicator that enables traders to spot trends and to follow trends that would normally bounce off it and continue in a particular direction either upwards or downwards until it is time for a new trend direction.
Hence combining 3 of such Exponential Moving Average indicators into one system can greatly help to enhance a trader's level of accounts in both the short and long terms on all timeframes in the financial markets.
Using the 3 EMA Crossover Indicator for MT4 has a lot of benefits it accrues to traders who use it. Some of these benefits are outlined below.
Benefits of Using the 3 EMA Crossover Indicator for MT4
The exponential moving average is one of the most reliable most used indicators in the history of trading. This means that in terms of trend direction, the Exponential Moving Average does the wonderful job of showing the Trader exactly where the direction of the current market is headed. Hence, a system that is built based on the Exponential Moving Average indicator would definitely be great at showing a trader where a current market is headed on any timeframe and also on any trading asset or currency pair.
The 3 EMA Crossover Indicator for MT4 is built on all the legacy of the Exponential Moving Average indicator and even combines 3 different EMAs to not just keep the trader on the right side of a trade, but also to help a trader get into a trade and get out of the trade when it's not working.
Using the 3 EMA Crossover Indicator for MT4 can help the trader confirm exactly when a new trend is on and when the trend has ended. This is due to the very predictive nature of the Exponential Moving Average indicator. Also, the3 EMA Crossover Indicator for MT4 can be combined with other systems to increase the predictive power of the Trader system and also to confirm the moves of the 3 EMA Crossover Indicator for MT4.
That way the Trader doesn't have to take trades from either his system individually or from the 3 EMA Crossover Indicator for MT4. The Trader can just wait for when both his system and the 3 EMA Crossover Indicator for MT4 are given off the same signals and getting to the trade and the direction that both of the systems agree with.
Another added benefit of using the 3 EMA Crossover Indicator for MT4 is that it is very easy to use. This simply means that traders of any skill level including beginner traders and people who are just learning forex can begin trading immediately using this indicator since it doesn't require a lot of expertise to master its signals.
The 3 EMA Crossover Indicator for MT4 itself is so simple and easy to use since it color codes all the moves appropriately so that even a beginner Trader knows exactly when he's supposed to be buying and when he supposed to be selling.
The system uses the color green to identify moments when all the exponential moving average is agreed on an uptrend and therefore the Trader can be in an uptrend at that time. Also, the system uses bright red color to indicate times when all of the exponential moving averages agree on a single Direction being the sell direction and so the Trader can take a sell trade based on that agreement.
This color codes employed by the 3 EMA Crossover Indicator for MT4 make it very easy for even new traders to identify when a new movie starting and when the market is not going in their Direction or when they shouldn't be in a trade.
Another way to support very profitable moves using the 3 EMA Crossover Indicator for MT4 would be to align different time frames in the same direction before any trade is taken by the Trader. For instance, such a trader has to align both the 5 minutes, 15 minutes and 1-hour timeframes in one direction before he or she would take a trade in that direction. This adds an extra layer of safety for the trades taken by the trader as they are persistently done only in the current trend direction.
This approach can really help the trader avoid heavy losses and maximize profits as following the trends especially when two or more of the time frames agree is a very strategic way of trading. Some traders only prefer to trade this way.
We do recommend, however, that traders use this system on the one-hour time frame especially when the traders are still trying to get used to the system. This is because it will give them enough time to understand what the system is doing and to plan their moves ahead of time before the trade actually happens.
For instance, a trader needs to practice on the one hour time frame first before venturing to any lower time frames because they will then have enough time to preplan their trade, practice taking trades exactly when the time is right and then they will not be in a hurry as to when to leave trades since the 3 EMA Crossover Indicator for MT4 can then teach such traders exactly how to be patient for the signal to tall them the trend is over on the timeframe the trader is currently working from.
Lastly, profits in the currency markets or anywhere for that matter, come when traders are dedicated to good risk practices. As a rule of thumb, we suggest never risking more than 2% of an account on any single trade. This will keep the trader alive in the long run and the trader can make slow and steady improvement.