The fast ema indicator keeps the idea small. A 5-bar average crosses an 8-bar one. That is the whole signal. Two lines carry the averages and two arrows mark the bar where they swap places.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 4: Fast EMA, Signal EMA, Buy Signal, Sell Signal |
| Alerts | popup |
| Inputs | 5 |
What the Fast EMA Indicator draws on the chart
A dodger blue `Fast EMA` line runs at `FastPeriod` `5`.
An orange `Signal EMA` line runs at `SignalPeriod` `8`.
`Buy Signal` uses arrow 233 and `Sell Signal` uses 234.
Marks sit `ArrowOffsetPts` `12` points from the candle.
- Fast EMA: line, dodger blue, width 2
- Signal EMA: line, orange, width 2
- Buy Signal: arrow, lime, width 2, arrow code 233
- Sell Signal: arrow, red, width 2, arrow code 234
How the Fast EMA Indicator calculates its values
Two averages from the terminal
iMA supplies both lines in exponential mode on the close. Nothing here reimplements the average, so the values match what MetaTrader draws from its own menu.
The crossing test reads two bars
A buy needs the fast line at or below the signal on the previous bar and above it now. A sell reverses that. Checking both bars is what makes it a crossing rather than a state.
Why five and eight are close together
Only three bars separate the two windows. So the lines hug each other and cross often. That is the trade this build makes: early marks, and plenty of them in a range.
How to read the signals
The gap between the lines shows how one-sided recent closes have been.
A crossing after a long separation carries more weight than one during a weave.
Marks land on the crossing bar, so they confirm one bar after the turn.
Both lines are short, which is why this reads as a scalping tool.
Alert channels in this build: popup, one message per closed bar.
One route only. `EnableAlerts` ships true and posts a terminal message when the lines cross, tagged with the text in `AlertTag`. This build carries no phone, mail or sound option. The guard reads a closed bar, so a crossing reports once.
Every Fast EMA Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
FastPeriod |
Fast EMA period. Bars in the quick average, default `5`. | 5 |
SignalPeriod |
Signal EMA period. Bars in the slower average, default `8`. | 8 |
Display settings
| Setting | What it does | Default |
|---|---|---|
ArrowOffsetPts |
Arrow offset in points. Points between a mark and the candle, default `12`. | 12 |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Enable bar-close alerts. Raise a terminal message on a crossing, default `true`. | on |
AlertTag |
Text prefix identifying the message, default `”FastEMA”`. | FastEMA |
Settings that fit your chart
Short averages need a chart that actually moves. EURUSD H1 is the reference chart, where `SignalPeriod` `8` covers eight hours. On M5 crossings arrive several times a session. H4 thins them to a handful a week.
When the Fast EMA Indicator fails
Five against eight is a narrow gap, so a sideways market produces paired marks.
An average always lags, so the mark confirms a move that already began.
No filter of any kind ships here, which is the cost of keeping it simple.
Copy the compiled Fast EMA Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Background reading on the method behind the Fast EMA Indicator: Forward exchange rate on Wikipedia, Stockcharts Pseudo Symbols at StockCharts ChartSchool.
Download the Fast EMA Indicator for MT4 and MT5
The zip holds the compiled Fast EMA Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
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FAQ
What does FastPeriod 5 change?
How quickly the blue line answers a new close. Five bars is very short, so it turns almost immediately. Widening the gap against `SignalPeriod` cuts the number of crossings and pushes each one later.
Why does the Signal EMA sit at 8?
It is the slower half of the pair, and eight keeps it close enough to cross often. Traders who want fewer marks usually raise it toward twenty rather than shortening the fast line.
What does the AlertTag prefix do?
It puts a text prefix on the terminal message so you can tell this tool apart when several indicators are alerting on the same chart. It changes nothing about how a crossing gets detected.
Does ArrowOffsetPts 12 scale per symbol?
No, it is a fixed point count. Twelve suits a five-digit currency pair. On gold or an index with a different point size the marks will sit too close or too far, so adjust it when you change instrument.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Fast EMA Indicator as one input. Always backtest before trading live.
Category: this is part of our Trend collection. Also, browse more Trend for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- The core method is documented in Forward exchange rate on Wikipedia.
- Additional market context is at Stockcharts Pseudo Symbols at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.