The EMA Trend Indicator applies four types of Exponential Moving Averages and generates crossover signals for determining trend directions.
The EMA Trend Indicator is combined with 21 and 34 EMAs. The developer of this indicator has used both EMA highs and lows for plotting two different dynamic price channels. The levels of the channels reflect the support and resistance areas of the price.
It fits all kinds of timeframes and currency pairs.
- 21 EMA value turns greater than 34 EMA
- The price finds support at EMA-highs
- SL below the EMA-low
- Exit with a 2R profit
- 21 EMA drops below 34 EMA
- The price rejects to move above EMA-lows
- SL above EMA-highs
- Minimum profit target: 2R