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Table 6 Best pairs of Moving Averages considering the combination EMA vs EMA

From: Examination of the profitability of technical analysis based on moving average strategies in BRICS

Countries

Brokerage

No Transaction Costs

0.50%

2%

Brazil.

Short: [5; 20]

Short: [11; 24]

Short: [20; 32]

Long: [80; 105]

Long: [80; 110]

Long: [80; 112]

Russia.

Short: [5; 8], [11; 14]

Short: [19;20]

Short: [26; 28]

Short: [5; 8], [11; 14]

Long: [80; 82]

Long: [91; 92]

India.

Short: [5; 13]

Short: [5; 16]

Short: [15; 20], [30; 34]

Long: [80; 120]

Long: [80; 96]

Long: [80; 120]

China.

Short: [5; 7], [32; 34]

Short: [33; 38]

Short: [33; 40]

Long: [80; 85]

Long: [80; 120]

Long: [90; 120]

South Africa.

Short: [36; 40]

Short: [36; 40]

Short: [35; 40]

Long: [96; 120]

Long: [96; 120]

Long: [97; 120]