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Delta EMA for MT4

Delta EMA is a momentum indicator based on the changes of closing price from one bar to the next. It displays a histogram of the exponential moving average of those changes, showing magnitude and direction of trend. Positive delta values are displayed as green bars, and negative delta values are displayed as red bars. The transition from negative to positive delta, or from positive to negative delta, indicates trend reversal. Transition bars that exceed a user specified value are displayed in bright green or bright red, alerting the trader to potential buy and sell signals. The screenshot shows a transition bar displayed as a buy signal because it exceeds the default threshold value on the H1 chart of the EUR/USD currency pair. The transitions back to negative delta show good exit points for the trade. The indicator is expressed in terms of percent change, averaged over the number of bars specified by the user, so settings that work for one currency pair can be applied to other pairs. 


Advantages

  • Indicates strength of momentum
  • Shows trend reversals
  • Provides buy and sell signals

Features

  • Audible alerts
  • E-mail alerts
  • Prints data to terminal
  • Adjustable parameters
  • Updates in real time
  • Accessible by external EA


Input variables

EMA periods:  The number of bars in the exponential moving average of delta. This number determines the alpha or smoothing factor of the moving average. 

Alpha of EMA:  Here the user can specify the alpha of the EMA directly. If this value is zero, alpha is calculated from the "EMA periods" input variable. If it is greater than zero, it becomes the value of alpha and the value of "EMA periods" is ignored. The normal range of alpha is greater than zero, less than or equal to 1. When the value is 1, the calculation of EMA does not take the previous value of the EMA into account, and the EMA becomes the current delta.
 
Signal threshold:  A transition bar becomes a signal bar if it exceeds this value in the positive or negative direction. In that case, it is displayed as a bright green or bright red bar, and an audible alert can be sounded.  

Sound alert:  When set to true, indicator sounds an audible alert when a transition bar exceeds the value of input variable "Signal threshold," becoming a signal bar. The alert is sounded the first time the current bar exceeds the threshold value, and it is sounded when the close of a bar exceeds the threshold value.

E-mail alert:  When set to a value greater than zero, the indicator sends an e-mail, to the a address specified by the user in Metatrader settings (Tools\Options\E-mail), when a transition bar exceeds the value of input variable "Signal threshold." Set this value to 2 to send an e-mail alert the first time the current bar exceeds the threshold value and when it closes above that value. Set this value to 1 to send an e-mail alert only when a bar closes above the threshold value. Set this value to 0 to disable e-mail alerts. 

Print deltas:  When set to true, the value of the EMA of delta at the close of every bar is printed to the terminal. 

The default values of "EMA periods" and "Signal threshold" work well on the H1 chart. Smaller values of "Signal threshold" work better on shorter timeframes, where changes from one bar to the next are less, and larger values work better on longer timeframes. Optimal values can be found by using the output of Delta EMA as input to an Expert Advisor and running the EA in Strategy Tester. The EMA of delta for the current bar not yet completed is updated at every incoming tick and is displayed in the upper-left corner of the indicator's window. This value, or the value at the close of any previous bar, can be accessed by an external Expert Advisor calling the iCustom() function. The link to iCustom() provides an example of how to do that. The number of the indicator buffer to access is 0 and should be passed to iCustom() as the "mode" parameter. That buffer uses reverse indexing order, so the index for the value of the EMA of delta for the current bar is 0, the index for the value at the close of the preceding bar is 1, the index for bar before that is 2, and so on. That index should be passed to iCustom() as the "shift" parameter.


Reviews 2
rainwalker123
2789
rainwalker123 2020.03.21 13:02 
 

This is a very good scalper, also for the M1 timeframe

Of course, the money is not flying thorugh the window from itself.

A trader needs knowledge, how to work with the higher timeframes

Thanks to the author for providing such a good indicator, for a fair price

cvdestyfx
2431
cvdestyfx 2020.01.03 13:56 
 

Very good indicator!

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The  RSI Basket Currency Strenght  brings the RSI indicator to a new level.  Expanding the boundaries of TimeFrames and mono-currency analysis, the RSI Multi Time Frame Currency Strenght take the movements of each currency that composes the cross and confront them in the whole basket of 7 crosses.  The indicator works with any combination of  AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD  pairs and with full automation takes in account every RSI value for the selected Time Frame.  After that, the ind
100 USD
Pairs Arbitrage Correlation
Pairs Arbitrage Correlation
Vladimir Tkach
The cross-correlation indicator calculates the relationship between the specified pairs for the previous period. Automatically selects the instruments with the highest and the lowest correlation, and then simulates trading on the selected pairs on the same test period. Then indicator displays the pairs that have shown the best trading results. Visualizes the PAC (Pairs Arbitrage Correlation) criterion for the pairs selected by the trader. The signal to open trades is set by the PAC levels. When
50 USD
Pinbar Scanner With Trend Filter
Pinbar Scanner With Trend Filter
ScorpionFX
(FOR MT4)   Pinbar Scanner For Multi Pair and Multi Time Frame : This indicator has been designed to automatically identify high probability pinbar formations. It includes an RSI trend-filter for finding the best oppportunities and it will send you an alert when these setups are found. IMPORTANT FACTORS TO KEEP IN MIND: A strong pinbar is clear evidence that the institutions are rejecting a particular price level.  These price levels are excellent areas to determine potential entries and exits
79 USD
BBMA Dashboard Fx
BBMA Dashboard Fx
Muhammad Syafiq Bin Mustapa
BBMA Dashboard Fx   This is a   Multi pair  and   Multi time frame  dashboard. The founder of the system is Mr. Oma Ally, which is a system based from Bollinger Band and Moving Average( BBMA ). BBMA consists of the use of 2 indicators: Moving Averages Bollinger Bands BBMA consists of 3 types of entries: Extreme MHV Re-Entry  This Dashboard Help you to scan current Extreme and Reentry setup ( MHV not included). The features of BBMA Dashboard : 1.Current TRENDS in Market Based on BBMA method.
60 USD
Williams Dashboard
Williams Dashboard
Pablo Mozo Bel
The Williams Dashboard is an information panel which allows you to have a global market vision through a Williams Percent Range. Williams Dashboard analyzes and tracks all the assets you want to invest in. Take advantage of this useful dashboard where you can open in a few seconds the chart and quickly invest in it. Main Features of Williams Dashboard Graphic panel that allows you to know the situation of many assets. 7 Different Williams Percent Range situations to discover when an asset is o
59 USD
Higher High Higher Close Lower Low Lower Close
Higher High Higher Close Lower Low Lower Close
Mark Flint
The HHHC-LLLC indicator uses candle by candle analysis, based on the principle of trend confirmation from Higher High, Higher Close candles (bullish) and Lower Low, Lower Close candles (bearish). There is no lag, no re-painting, and averaging is not used. HHHC-LLLC helps confirm: market structure and levels - look left to see them line up trends, pullbacks & reversals Bull moves (blue), Bear moves (red) Structure Zig Zags (black dotted lines), for summarizing market moves exhaustion and stalling
60 USD
Classic Keltner Channel
Classic Keltner Channel
Muhammad Elbermawi
Or CKC . This indicator works depending on the classic ten-day moving average rule described by Chester W. Keltner (1909–1998). All parameters are set to the classic version of the Keltner system by default, while the user can change them if he wants. Important Information Read CKC Manual: https://www.mql5.com/en/blogs/post/736577 CKC Expert Advisor Example: https://www.mql5.com/en/blogs/post/734150 About Keltner Channel Formula 1. Calculate the Center Line as a simple moving average from the
60 USD
FX Trend
FX Trend
Daniel Stein
You want to become a constantly profitable 5-star forex trader?  1.  Read the basic description of our simple trading  system  &  and it's major strategy update in 2020   2.   Send a screenshot of your purchase to get your personal invitation to our exclusive trading chat FX Trend   displays the trend direction, duration, intensity and the resulting trend rating for all time frames in real time. You'll see at a glance at which direction the trends are running, how long they last and how powe
75 USD
Currency Strength Meter Pro for MT4
Currency Strength Meter Pro for MT4
ALEKSANDR SHUKALOVICH
Currency Strength Meter is the easiest way to identify strong and weak currencies. This indicator shows the relative strength of 8 major currencies + Gold: AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD, XAU. Gold symbol can be changed to other symbols like XAG, XAU etc. By default the strength value is normalised to the range from 0 to 100 for RSI algorithm: The value above 60 means strong currency; The value below 40 means weak currency; This indicator needs the data of all 28 major currency pair
57.50 USD
More from author
Probability Indicator
Probability Indicator
Steven Brown
Probability Indicator displays volatility bands on the price chart and calculates probabilities of price exceeding specified levels for the next bar, taking trend into account. It does that by performing a statistical analysis of the completed bars in the chart's history, which may include years of data. The volatility bands differ from Bollinger bands in the calculation of standard deviation from the simple moving average, resulting in bands that envelop the range of price swings in a channel t
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Probability Indicator for MT5
Probability Indicator for MT5
Steven Brown
Probability Indicator displays volatility bands on the price chart and calculates probabilities of price exceeding specified levels for the next bar, taking trend into account. It does that by performing a statistical analysis of the completed bars in the chart's history, which may include years of data. The volatility bands differ from Bollinger bands in the calculation of standard deviation from the simple moving average, resulting in bands that envelop the range of price swings in a channel t
33 USD
Delta EMA
Delta EMA
Steven Brown
Delta EMA is a momentum indicator based on the changes of closing price from one bar to the next. It displays a histogram of the exponential moving average of those changes, showing magnitude and direction of trend. Positive delta values are displayed as green bars, and negative delta values are displayed as red bars. The transition from negative to positive delta, or from positive to negative delta, indicates trend reversal. Transition bars that exceed a user specified value are displayed in br
30 USD
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rainwalker123
2789
rainwalker123 2020.03.21 13:02 
 

This is a very good scalper, also for the M1 timeframe

Of course, the money is not flying thorugh the window from itself.

A trader needs knowledge, how to work with the higher timeframes

Thanks to the author for providing such a good indicator, for a fair price

cvdestyfx
2431
cvdestyfx 2020.01.03 13:56 
 

Very good indicator!

Reply to review
Version 1.4 2018.11.18
E-mail alerts now include Symbol and Period information.
Version 1.3 2018.10.30
The option is added to send an e-mail alert when the EMA of delta crosses the threshold value set by the user.