Guppy Multiple Moving Average Indicator

Guppy Multiple Moving Average Indicator

The Guppy Multiple Moving Average indicator for MT5 provides trending Forex trading signals based on 12 exponential moving averages.

The Guppy Multiple Moving Average Indicator in MT5 generates forex trading signals based on Daryl Guppy’s famous trading system. This indicator uses twelve exponential moving averages (EMA) to determine the direction of an existing trend. Additionally, it offers entry and exit signals, especially for trend-following traders who rely on moving averages.

This indicator is universal and works effectively on various intraday timeframes, as well as daily, weekly and monthly charts.

It is suitable for both new and experienced Forex traders and adapts to intraday, short-term and long-term trading strategies.

Guppy Multiple Moving Average Indicator For MT5 Trading Signals

The indicator displays twelve exponential moving averages with periods of 3, 5, 8, 10, 12 and 15, all green. It uses exponential moving averages to reduce latency and increase price sensitivity. Traders can use the intersection of price and these moving averages to make market entry and exit decisions.

When the price crosses all the moving averages and all the moving averages are pointing up, it signals the start of a bullish price trend. Therefore, traders should consider entering the market with a buy trade and setting a stop loss below the moving averages.

Conversely, traders should enter a sell position when price crosses below moving averages and if all moving averages are pointing down. The indicator does not indicate a profit target. For optimal results, traders may consider holding their positions until the price reverses and crosses at least three moving averages.

However, some traders prefer to hold their positions until the price crosses all moving averages, which gives the opposite trading signal. It is important to note that the price must cross all moving averages to confirm the entry.

Conclusion
To summarize, the Guppy Multiple Moving Average Indicator for MT5 is a valuable tool designed for forex trend traders who rely on moving averages as part of their trading strategy.