The 3 EMA Crossover is one of the simplest EMA-crossover oscillators you may have ever experienced. It doesn’t require manual identification of intersections between moving averages.
Also, its simple demonstration of crossover trend signals helps novice speculators trade like a pro in live markets.
Technically, 3 EMA Crossover Indicator suits all MT4 timeframes and supports forex, stocks, cryptocurrency, and other financial assets available within the trading platforms.
3 EMA Crossover Indicator Overview
Generally, we see EMA templates showing crossover signals on the main price chart. With an exception, the 3 EMA Crossover comes as a rare indicator showing the crossovers in a separate oscillator window. Moreover, it signals sideways markets alongside on/off-trend situations.
3 EMA Crossover Indicator Explanation
The 3 EMA Crossover Indicator applies a 5, 10, and 20-period exponential moving average (EMA) for plotting the crossovers in the background. The tall green bar is shown at the initial part of the chart signals for a bullish crossover.
On the other hand, the red bars indicate a bearish crossover of the indicator’s EMAs. The short orange bars in the middle signal a sideways market or a neutral trend status. Depending on your trading style, you can use either exit an existing entry or plan to add more position to your favored direction during a consolidation period of the price trend.
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Buy Signal Generation with 3 EMA Crossover Indicator
- The EMA crossover indicator plots green bars
- The price breaks above its recent high
- SL below the current swing low of the market
- Exit short when the indicator generates orange bars
Also Read: Exness Review – Is it The Best Forex Broker?
Sell Signal Generation with 3 EMA Crossover Indicator
- The 3 EMA Crossover Indicator generates red bars
- The price breaks the recent market low at the same time
- SL above the current market high
- Exit long once the indicator shows orange bars