Free Forex Indicators (MT4), Trend Following Indicators

Guppy Multiple Moving Averages Indicator

The Guppy Multiple Moving Averages (GMMA) represents a trend-following trading strategy developed for Metatrader 4 platforms. It applies 13 Exponential Moving Averages (EMA) with different parameters for determining the market trends.

EMA is widely admired by short-term traders for its higher level of sensitivity to the recent changes in price actions. This type of moving averages gives you a better overview of the current market trend than simple or weighted moving averages.

Guppy Multiple Moving Averages Indicator for MT4 Overview

Guppy Multiple Moving Averages Indicator for MT4 overview

GMMA applies 3 types of Exponential Moving Averages. The lines in red color represent 3, 5, 8, 10, 12, and 15 EMAs. These moving averages are considered as fast-EMAs. On the other hand, the slow-EMAs are parameterized as 30, 35, 40, 45, 50, and 55 periods which are plotted in green color.

The blue line across the middle of the chart shows the 200-EMA level that demonstrates a long-term overview of the market trend.

Guppy Multiple Moving Averages Indicator for MT4 Explanation

Guppy Multiple Moving Averages Indicator for MT4 explained

The fast-EMAs jump over the slow-EMAs means it is a bullish trend of the market. For a better confirmation, make sure all the moving averages move above the 200-EMA. The 200-EMA also works well as a long-term support/resistance level of the price.

During a bearish market trend, the fast-EMAs will drop below the slow-EMAs and all the moving averages will move below the 200-EMA level. Scalpers may use slow-EMA levels as the initial stop loss area. Otherwise, the 200-EMA is a good S/L option for intraday/long-term traders.

Check Out: XM Review – An Extensive Forex Broker Guide

Guppy Multiple Moving: Buy Conditions

Guppy Multiple Moving Averages Indicator for MT4 buy signal
  • The Fast-EMAs move above the Slow-EMAs
  • All the moving averages move above 200-EMA
  • SL below 55-EMA
  • Take profit when the price drops below 15-EMA

Guppy Multiple Moving: Sell Conditions

Guppy Multiple Moving Averages Indicator for MT4 sell signal
  • The fast-EMAs dive below the slow-EMAs
  • All the EMAs move below the 200-EMA
  • SL above the 55-EMA
  • Take profit whenever the price moves above 15-EMA

I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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About Trend Following System

Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.
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