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Indicators

Custom Exponential Moving Average (EMA) Indicator for MT5 - indicator for MetaTrader 5

Tiago Azevedo Amorim Martins | English Русский 中文 Español Deutsch 日本語 Português 한국어 Français Italiano Türkçe
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Published:
CustomEMA.mq5 (6.88 KB) view
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This free custom indicator calculates and displays the Exponential Moving Average (EMA) directly on the MetaTrader 5 chart.

The EMA is one of the most widely used technical tools for trend identification and signal generation.


Features

  • User-defined period for the EMA.

  • Choice of applied price: Close, Open, High, Low, Median, Typical, Weighted.

  • Smooth calculation using the standard EMA formula, initialised with an SMA of the first bars.

  • Lightweight, efficient, and easy to customise for your own strategies.


Indicator Image


📊 How to Interpret

  • The EMA reacts faster to price changes compared to the Simple Moving Average (SMA).

  • When the price is above the EMA, it may indicate an uptrend;
    when below the EMA, a possible downtrend.

  • Often used in strategies such as:

    1. Trend-following
    2. Moving average crossovers (e.g., EMA 50 crossing EMA 200).

Indicator Settings


⚙️ Customisation

  • Adjust the line colour and thickness to your preference.

  • Modify the applied price and period directly in the input settings.

Costumize Visualisation


Why Use This Indicator?

  • Helps identify market direction quickly.

  • Can be a building block for advanced strategies.

  • Perfect for traders who want a clean and simple EMA implementation.



    Translated from Portuguese by MetaQuotes Ltd.
    Original code: https://www.mql5.com/pt/code/64378

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