Guppy Multiple Moving Average Short Indicator: Six Lines

Written by Dominic Walsh · Published 8 Jun 2026 · Last updated 9 Sep 2026

The guppy multiple moving average short indicator plots the trader half of the fan and leaves the investor half out. Six exponential averages at 3, 5, 8, 10, 12 and 15 bars show how short-term participants are positioned. The marks come from the average of all six turning.

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	8: Short EMA 3, Short EMA 5, Short EMA 8, Short EMA 10, Short EMA 12, Short EMA 15, Guppy BUY, Guppy SELL
Alerts	popup, push notification, email, sound
Inputs	13

What the Guppy Multiple Moving Average Short Indicator draws on the chart

Short EMA 3 through Short EMA 15 are the six fan lines, shading blue to lime.

Guppy BUY places a lime arrow when the fan average turns up.

Guppy SELL places a red arrow when it turns down.

Marks sit `InpArrowOffsetPts` `12.0` from the bar.

• Short EMA 3: line, dodger blue
• Short EMA 5: line, deep sky blue
• Short EMA 8: line, aqua
• Short EMA 10: line, turquoise
• Short EMA 12: line, medium spring green
• Short EMA 15: line, lime
• Guppy BUY: arrow, lime, arrow code 233
• Guppy SELL: arrow, red, arrow code 234

How the Guppy Multiple Moving Average Short Indicator calculates its values

The six averages

iMA supplies each line at `InpShort1` `3` through `InpShort6` `15`. All six read the close. The lengths sit close enough together that the group moves as one.

Averaging the fan

avg_curr takes the mean of all six values on the current bar. avg_prev and avg_ref do the same on the two bars before. Reducing six lines to one number is what makes a turn testable.

Testing the turn

buy_cross needs avg_prev at or below avg_ref and avg_curr above avg_prev. That is a change of direction in the fan average rather than a crossing of any two lines. The sell case mirrors it.

How to read the signals

A tight fan means short-term traders agree on price.

A spreading fan means the group is pulling apart, which usually accompanies a move.

The marks come from the average turning, not from two lines crossing.

Only the trader half runs here, so half the method is missing.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

The alert block sits behind `EnableAlerts`, which starts on, and `EnablePopup` carries the message. `EnablePushNotify`, `EnableEmail` and `EnableSound` all begin false. `SoundFile` picks the clip. One fan message follows each closed bar.

Every Guppy Multiple Moving Average Short Indicator input

Core settings

Setting	What it does	Default
InpShort1	short EMA 1 period. Fastest fan line, default `3`.	3
InpShort2	short EMA 2 period. Second fan line, default `5`.	5
InpShort3	short EMA 3 period. Third fan line, default `8`.	8
InpShort4	short EMA 4 period. Fourth fan line, default `10`.	10
InpShort5	short EMA 5 period. Fifth fan line, default `12`.	12
InpShort6	short EMA 6 period. Slowest fan line, default `15`.	15

Display settings

Setting	What it does	Default
InpArrowOffsetPts	arrow vertical offset in points. Mark distance from the bar in points, default `12.0`.	12.0

Alert settings

Setting	What it does	Default
EnableAlerts	Master switch for the fan turn alerts, default `true`.	on
EnablePopup	Terminal dialog on a fan turn, default `true`.	on
EnablePushNotify	Phone push on a fan turn, default `false`.	off
EnableEmail	Mail delivery on a fan turn, default `false`.	off
EnableSound	Sound playback on a fan turn, default `false`.	off
SoundFile	Wav clip for the fan alert, default `alert.wav`.	alert.wav

Settings that fit your chart

Six short averages suit charts where you want the near-term picture. EURUSD H1 is the reference chart, where `InpShort6` at `15` covers most of a session. On M5 the fan tightens and spreads several times an hour. On H4 the group moves slowly and turns are scarce.

When the Guppy Multiple Moving Average Short Indicator fails

Six averages of the same closes move together, so the fan rarely disagrees with itself.

Averaging them into one number throws away the spread, which is the part traders watch.

Without the investor half, the method loses the comparison at its centre.

Copy the compiled Guppy Multiple Moving Average Short 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.

Related on forexmt4systems.com: Moving Average Crossover Strategy.

Download the Guppy Multiple Moving Average Short Indicator for MT4 and MT5

The zip holds the compiled Guppy Multiple Moving Average Short 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.

FAQ

Why does the fan stop at InpShort6?

Because this build covers the trader half only. The full method pairs a short fan with a much longer investor fan and reads the gap. Here the six short lines run alone, so treat it as half the picture.

What does the fan average turning mean?

avg_curr takes the mean of all six lines. A buy needs that mean to have stopped falling and started rising. It is a group decision rather than one line crossing another, which makes it a little steadier.

Why are InpShort1 to InpShort6 so close?

So the group moves as a unit and the spread between them stays readable. `InpShort1` `3` through `InpShort6` `15` are the numbers the method names. Spreading them further would turn the fan into six unrelated averages.

Does the Guppy BUY arrow need a crossing?

No, and that is the unusual part. The test reads the fan average against its own two previous values. No two lines have to cross for a mark, which means marks can appear while the fan is still tight.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Guppy Multiple Moving Average Short Indicator as one input. Always backtest before trading live.