FOREX EMA Arrow 2.03 -Price Action Indicator Fix MT4
The indicator was originally designed to handle pending orders . Therefore, when a signal appears, you will not enter it immediately, which means that you will place an order at the price that the indicator will show you, and will also give a take profit and stop loss. But I noticed another way to use this indicator within a 5-minute time frame. You will add 50 EMA and 200 EMA as shown.
1. When the 50 EMA crosses the 200 EMA upwards and the first green arrow appears, enter buy. The profit is 5 points. After the first arrow of the cross, do not input any other signals until a cross in the opposite direction appears.
2. For selling, the 50 EMA crosses the 200 EMA downward, and the first red arrow appears to make a profit of 5 points.
This indicator is applicable to all time frames, so you can combine it with strategies to make more money. good luck.
FOREX EMA Arrow 2.03 -Price Action Indicator Fix MT4 download link