INSTALLATION

To install the files, open Metatrader4 (MT4) and click File, Open Data Folder.
Locate the Setup200EMA_Distance(.exe) file that you downloaded. Note:
you may not see the .exe part if your computer is set to hide it. Copy or
drag that file into the Data Folder that you opened.
Double click on the Setup file. Click Run if it asks. When the install window
appears click Extract. This will put the indicator in the Indicators folder and
the other files in the Files folder. This will also put a copy of this manual in
your main Data folder.
Note: if you are reinstalling it, just click on YesToAll if you see that option.
That will replace all the files with the original ones.
Now close and reopen your MT4 platform. Then click on Insert (on the top
menu), Indicators, Custom and you will see it near the top,
200EMA_Distance. Just click on it and you will see the properties window.
If you dont want to change anything, just click OK. The Input options are
listed below. It might be easier to understand the options if you just click
OK so you can see it on the chart, and then open the indicator properties.

INPUT OPTIONS
Section 1:
PeriodsToWatch

M15,H1,H4,D1

These are the 4 timeframes displayed by default. If you dont want to see
them all you can delete the ones you dont want. If you delete all of them,
it will display the current timeframe only. If you want to add different
timeframes, separated with a comma, you will need to use the
UseLocalData option in Section 5.
Section 2:
DisplayProbability

True

This will display the Probability that price will return to 200EMA based on
past history. This is calculated specifically for each pair based on the
number of times that price has gone past the EMA average. So if that
happened four times you will see 25%, 50%, 75% and 100% (when the

Current Bars is greater than the highest number in history). If it only

happened three times you will see 33%, 66% and 100%, and of course
different values for different number of occurrences. The smaller the
Probability numbers are when Current Bars first exceeds EMA Average,
indicates that this pair went over the average quite a few times.
DisplayAvgPips

True

This will display the AvgPips that price moved after reaching a certain
number of bars away from the 200EMA. The number of bars can be fixed or
variable (see below).
DisplayMaxPips

True

This will display the MaxPips that price has moved after a certain number of
bars away from the 200EMA. The number of bars can be fixed or variable
(see below).
UseFixedNumberOfBars

False

When set to false, this will display the AvgPips and MaxPips that price has
moved past the EMA Average. True will use a fixed set of values supplied by
Jared which are currently 150, 150, 100, 50 for the M15, H1, H4, D1
respectively. There are no fixed numbers for other time frames.
Section 3:
This section should be clear but dont use too large a font size or the text
will run together. This may be fixed in the future.
Section 4:
You can move the display to a different corner if you wish, but only if
ShowCurrentPairOnly is set to True (see below). You can also adjust the
vertical and horizontal position a little using the X and Y values.
Section 5:
UseLocalData

False

If you change this value to True it will no longer use the values that were
supplied with this installation, but will recalculate them based on your own
broker and chart. If you choose to do this I suggest you set your Max Bars
in chart to 20,000. You will have to set this to True if you wish to use time
frames other than the four listed or different currency pairs. Note: I did

have trouble with the EURNZD on the D1 timeframe. It failed to calculate

the values and therefore did not display information on the chart for that
timeframe. Second Note: the files included do not update, so any future
cycles of price moving away and returning to the 200EMA will not be
included, unless you change this setting to True.

ShowCurrentPairOnly

True

If you change this setting to false it will only display the arrows and time
frames for all the pairs listed (below). This can give you a quick overview of
all the pairs at once. Note: this will default to corner 1 no matter what you
have selected in the Inputs. Also, it will take about a minute to display
when you first switch to False.
PairsToWatch
These are all the pairs that you want to see when you set
ShowCurrentPairOnly to False. If you want to see more pairs that are listed
here, which should be the standard 28, you will have to set UseLocalData to
True, and add them separated with a comma as displayed. Keep in mind, if
you add too many it will run off the chart.
The Arrows
You do not have an option to change the arrows but they will display light
green, medium green and dark green, and light red, medium red and dark
red, showing the direction to look for trades when the Probability is from 1%
up to 33%, then up to 66%, then up to 100% respectively. So the darker the
color, the longer price has been away from the 200EMA.