Delta EMA for MT4

Delta EMA is a momentum indicator based on the changes of closing price from one bar to the next. It displays a histogram of the exponential moving average of those changes, showing magnitude and direction of trend. Positive delta values are displayed as green bars, and negative delta values are displayed as red bars. The transition from negative to positive delta, or from positive to negative delta, indicates trend reversal. Transition bars that exceed a user specified value are displayed in bright green or bright red, alerting the trader to potential buy and sell signals. The screenshot shows a transition bar displayed as a buy signal because it exceeds the default threshold value on the H1 chart of the EUR/USD currency pair. The transitions back to negative delta show good exit points for the trade. The indicator is expressed in terms of percent change, averaged over the number of bars specified by the user, so settings that work for one currency pair can be applied to other pairs.