Forex EMA Bands Trend Following Strategy
This Old Kings indicator for MetaTrader 4 is called Forex EMA Bands Trend Following Strategy. As the name suggests, the idea behind it is moving averages and following the trend. In the code it works with RSI and moving averages. It has 5 settings, for example Fast EMA (default 10), Slow EMA (default 20) and Signal EMA (default 1). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 4 indicator files with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Forex EMA Bands Trend Following Strategy
Forex EMA Bands Trend Following Strategy is an indicator for MetaTrader 4 based on RSI and Moving Average. It has 5 settings, such as Fast ema, Slow ema and Signal ema. MQL source code included.
Files in the download: ema's bands with rsi filter for metatrader mt4.tpl, ema's bands with rsi filter for standard trading plataform.tpl, installation manual.txt, Macd-with-EMA.ex4, Macd-with-EMA.mq4, RSIFilter_v1.ex4, RSIFilter_v1.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Fast ema | 10 | |
| Slow ema | 20 | |
| Signal ema | 1 | |
| M aof signal per | 7 | |
| Period rsi | 14 | Number of bars in the calculation |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Moving Average · Trend · RSI · MT4 Indicator · MQL4 Source Code