I wanted to build new indicator with two EMAs.
parameters : 20 EMA and 30 EMA
Output Required : Whenever the difference pip value between above 2 EMAs is 50 or greater, then I wanted to alert a signal short or long.
Can any one give me an idea or any similar indicators available, please let me know.
thanks in advance
Very similar indicators for you.
3 MAs Cross Indicator w/ Arrows (Simulate two indicators by setting second and third MAs to 30 period)
Price and MA Cross Indicator w/ Arrows
Try modifying them
Here is another one that may work for you. You will need to change the seperation number. It is set to 8 seperation now I believe. Also you can change the 2 EMA's through the Meta Editor. I think they are set to 10 and 26 now. Just change them to your 20 and 30. Then compile and copy and paste your MQ4 and EXE files to your indicator folder and you are set. It also has an alarm to notify you of the seperation. I have not used this indicator yet but I found it today by accident.
I hope this will help you out.