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Indicators

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

Tiago Azevedo Amorim Martins
Tiago Azevedo Amorim Martins

Tiago Azevedo Amorim Martins

5 (1)
I’m an algorithmic trading developer specialized in building automated systems for MetaTrader and Python environments.
My work focuses on developing Expert Advisors, custom indicators, and trading automation tools designed to transform trading strategies into reliable and efficient code.
8 products 1 code
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6323
Rating:
(4)
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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