Author: Gopal Krishan Doda
The Doda-EMA Indicator is a powerful tool that helps traders identify Buy, Sell, and Exit signals using three key Exponential Moving Averages: EMA7, EMA14, and EMA21.
How It Works
Here’s a quick rundown of the rules to follow:
- Buy Signal: This triggers when EMA7 is greater than both EMA14 and EMA21, and EMA14 is greater than EMA21.
- Sell Signal: This occurs when EMA21 is greater than both EMA7 and EMA14, and EMA14 is greater than EMA7.
The indicator also overlays lines on your chart, providing a visual representation of the signals. Plus, it displays the number of pips gained in brackets after issuing a signal!
One of the best features of the Doda-EMA is its versatility; it works seamlessly across all currency pairs and time frames, making it a must-have in your trading arsenal.
Recommendations for Successful Trading
When using the Doda-EMA Indicator, always implement a stop-loss based on your risk tolerance. Consider using another indicator, like the Parabolic SAR, to help you manage your trades effectively.
Remember, the key to successful trading lies in cutting your losses short and letting your profits run!
Sample Image:
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