Setting up the 5 / 10 EMA on a MT4 system

Beginner Questions
#1

Hi, I have read and studied the part on how to setup your own trading system in six steps. I am however uncertain as to how the EMA indicator with the 5 and 10 lines must be configured in a MetaTrader4 system.

Any assistance will be appreciated.

#2

in MT4 click the sheet of paper with a green plus next to it. It’s in the upper right of the MT4 screen.

Go to Trend -> Moving Average

Period is 5, MA method is Exponential…for EMA that is.

Click ok and it is added to the main trading window. Do the same for the 10.

#3

Thank you Virtecs. One more question. What are the best levels to use for the Stoch and RSI indicators? 30/70 or 20/80 ?

#4

for stochs I use the generic 80/20 levels. A break past 20 might mean go long, and down from 80 might be short.

For RSI I only use the 50 as a confirmation for a potential trend.

#5

Thanks again Virtecs. I am new to Forex trading and any assistance is much appreciated. I have applied the 5 / 10 EMA updates and can see the difference already.

Again, much appreciated.