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{=== _Ward's_EMA_Power =====================}
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{This indicator is used help you decide
whether to take a trade or get out of a
trade. It uses EMA cross overs to color
the radar screen cells green, yellow or
red depending on which direction the
"signal EMA" (XAverage1) is moving.

This is basically a RadarScreen Indicator
for a "ribbon" of EMAs.

By default, the cells will light up in
order letting you know how "strong" or
"weak" the trade indication. You can
also load two instances of this indicator
setting the averages in sequence 4 through
10 on the first and then 4, 11, 12, 13,14,
15 and 16 on the second to make a bar of
tweve cells. This looks really cool if you
like things like that.

Also, this indicator gives signals letting
you know if the EMA is rising (+), falling
(-) or the same as last bar (=).

Remember, trading is risky so use this
indicator at your own risk! I hope this
helps make your trading a little more fun.}

{Note: Make sure you load at least enough
additional bars of data for the longest
EMA that you use!}

Below I have attached a couple of screenshots. One shows what the EMAs "see" on a chart and the other is to illistrate that you could still have a clean chart if you wanted to or use some other indicator along with this one.

I was trying to create an EMA crossover trade indicator using two EMAs. Then it hit me. If two EMAs are good, wouldn't 12 be better? Then you could see how strong or weak the signal is or know if you should stay in a trade or not. Some people say EMAs lag because they are a result of history. To overcome this you may be able to do the following. You could set the indicator to use say 25 tick bars (or less) while you look at and trade off of a 1 minute chart. That way you are getting trade signals from the indicator before your chart even shows what is happening!

In the images, I have two instances of the indicator loaded in the same RadarScreen. The settings on the first instance are 4,5,6,7,8,9,10 and on the second 4,11,12,13,14,15,16. I also have loaded 200 additional bars of data. Signals happen when the 4 EMA crosses over or touches any of the other EMAs.

You don't have to use two instances of this indicator for it to work properly. The defaults are setup for 1. Some people don't want to use up 2 indicators worth of valuable desktop real estate.

Enjoy!