Leader EMA Indicator
Incredible Zero Lag market trend detector – Leader EMA Indicator. An ideal forex indicator to determine the direction of the trend and track the price movement of various currency pairs.
Description
The Leader EMA indicator for MetaTrader is a custom exponential moving average that keeps up with the price. It also comes with trend detector features to reflect trend offset changes. It changes to GREEN when the market is bullish and turns PINK when the market is bearish.
Thus, the indicator can be useful as a trend filter to filter out market noise and also determine the market’s tendency to trend.
How to get rid of EMA lag?
Exponential moving averages are widely used in the world of financial trading. They are used to enter / exit trades, filter the trend, etc. But, unfortunately, they tend to lag behind the price.
The Leader EMA indicator is an improved version of the exponential moving average; it has been carefully built with anti-aliasing features that reduce the price lag to near zero. This explains the high speed of the indicator’s reaction to changes in the market.
In addition, the indicator is recommended for beginners, intermediate and advanced forex traders. In addition, it is also suitable for scalping, day/intraday and swing trading.
How to trade with the Leader EMA
The screenshot above shows how the indicator will look on your MT5 chart. It also illustrates how to identify a good trade entry point.
The Leader EMA indicator is recommended to be used in synergy with price action/other technical indicators for greater efficiency.
BUY and SELL signal. To get a BUY signal, wait for the price to rise above the GREEN line of the indicator, indicating a potential bullish trend. You can then enter a BUY/LONG position after the price also prints a bullish candle pattern (eg bullish engulfing).
The above principle also applies to a SELL setup/entry. You can also refer to the above screenshot to better understand the concept of BUY/SELL.
Conclusion
The Leader EMA indicator is convenient for charting, easy to use and very sensitive to price changes. Finally, it’s free to download.