An EMA (Exponential Moving Smooth Moving Average) is a variation of the standard moving average indicator. It provides some advantages such as that you will be able to grasp price fluctuations with much more detail.
Here, in this article, we introduce a band indicator for Metatrader 4 that can be used for stop-loss setting and target setting.
If you look at the image above, you can see that this indicator looks very much like the popular Bollinger Bands indicator. However, the EMA Band indicator is derived differently, of course. The calculation method for each line for the EMA Band is as follows:
・ Upper limit band (Line No.1) - Delta added to high EMA
・ High EMA (Line No.2) - Use high for EMA calculation
・ Low EMA (Line No.3) - Use low for EMA calculation
・ Lower limit band (Line No.4) - Tips for using delta as a low price EMA
Tips for using
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