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Table 7 Best pairs of Moving Averages considering the combination SMA 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; 10] Short: [15; 20] Short: [16; 22]
Long: [80; 100] Long: [80; 106] Long: [80; 107]
Russia. Short: [5; 8] Short: [31; 40] Short: [35; 40]
Long: [80; 83] Long: [80; 86] Long: [112; 120]
India. Short: [5; 9] Short: [5; 10] Short: [33; 40]
Long: [80; 100] Long: [80; 96] Long: [80; 98]
China. Short: [5; 7] Short: [35; 40] Short: [33; 40]
Long: [80; 83] Long: [100; 120] Long: [100; 120]
South Africa. Short: [33; 40] Short: [33; 40] Short: [35; 40]
Long: [100; 120] Long: [110; 120] Long: [110; 120]