Guppy Multiple Moving Averages (Long and Short)
Info
The Guppy Multiple Moving Averages (Long and Short) is a Indicator for MetaTrader 4 that this indicator consists of two sets of six exponential moving averages (emas) each, designed to identify and assess the strength of both short-term and long-term trends. The short-term trend is represented by 6 EMAs with periods of 3, 5, 8, 10, 12, and 15, while the long-term trend is depicted by another set of 6 EMAs with periods of 30, 35, 40, 45, 50, and 60.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Guppy Multiple Moving Averages (Long and Short)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This indicator consists of two sets of six Exponential Moving Averages (EMAs) each, designed to identify and assess the strength of both short-term and long-term trends.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: source code for multiple orders - another powerful indicator for MetaTrader 4 traders.
This indicator consists of two sets of six Exponential Moving Averages (EMAs) each, designed to identify and assess the strength of both short-term and long-term trends.Also recommended: multiple moving averages (mas) - similar indicator with strong performance on MetaTrader 4.
The short-term trend is represented by 6 EMAs with periods of 3, 5, 8, 10, 12, and 15, while the long-term trend is depicted by another set of 6 EMAs with periods of 30, 35, 40, 45, 50, and 60. These parameters are recommended for daily timeframes, but the indicator can be adapted for other timeframes like M15 or H1 by adjusting the periods accordingly.
The indicator offers flexibility by allowing users to customize the moving average type, period, and applied price, enabling traders to fine-tune the indicator for their preferred timeframes and sensitivity to trend changes.
One of the key insights provided by this indicator is the agreement or disagreement between short-term and long-term trends, which can help traders anticipate significant market moves. When the two sets of EMAs are parallel and close together, it suggests a high level of agreement between investors and speculators, indicating a potential major price movement.
For a comprehensive understanding of how to interpret and utilize this indicator, refer to the provided resource.
You may also like: daily trend indicator for multiple currency pairs - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "2.00"
#property strict
#property indicator_chart_window
#property indicator_buffers 6
#property indicator_color1 orange
#property indicator_color2 orange
#property indicator_color3 orange
#property indicator_color4 orange.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.