EMA Cross Indicator
EMA crossover indicator for MT5 is the best trend reversal indicator for MT5. Accurate trend following indicator. The best forex indicator for MT5.
Description
The EMA Cross Indicator for MetaTrader is a moving average based indicator that signals a potential price reversal when two EMAs cross. Moving averages are not visible on the chart; the indicator displays a blue/red signal arrow when the EMA crosses above/below.
The BLUE arrow shows a potential bullish move (BUY signal) and the RED arrow also shows a bearish move (SELL signal).
What’s more, beginner, intermediate, and experienced forex traders will also find this technical indicator useful for determining both short-term and long-term trade setups. In addition, it also works well for spotting scalping, day/intraday and swing trading signals.
How to Trade With The EMA Cross Indicator
The screenshot below shows how the indicator will look on your MT5 chart. It also shows how to spot a high probability trade setup.
Please note that the EMA Cross indicator is not recommended as a standalone trading indicator for BUY/SELL entries. It should be used in conjunction with price action/other technical indicators to be more effective.
BUY and SELL Signals: First, wait until the market starts making higher highs and higher lows, indicating a bullish trend. You can then enter a BUY/LONG position after the indicator also draws a BLUE signal arrow which suggests the optimal BUY entry zone.
The above principle for a BUY signal and entry also applies to a SELL setup/entry. In addition, you can use price action (like bull/bear engulfing, pin bar, etc.) as a confluence before opening an entry to increase your win rate.
Conclusion
The EMA Cross indicator for MT5 is ideal for identifying trading opportunities in a trending market. Moreover, it can be downloaded for free.