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TMA Indicator for the MT4

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Exynox Scalper

Introduction to TMA Indicator

The characteristics of moving average lines vary from being sensitive and unpredictable to smoothened and reliable. TMA is a smoothened version of moving average lines, which makes it a reliable indicator of trend direction.

What's the TMA Indicator?

TMA Indicator (also known as Triangular Moving Average) is a trend-following technical indicator that is used to calculate a moving average line. Technically, this version of the moving mean is a double smoothed average that uses its formula. It plots a smooth line that is useful for identifying trends based on price action in relation to its moving-average line and the slope of its moving-average line.


TMA Indicator for MT4

How does the TMA Indicator Work?

Triangular Moving Average Indicator employs a simple formula in its algorithm that calculates the average price movement twice. The average price is calculated first in the same way as an SMA (Simple Moving Average). It then calculates the average of all the SMAs in the time frame selected by the user.

The formula is:

1ST Step:

SMA = (Price 1 + price 2 + price 3 + price 4 +...+ Price ? n)/ _ n period

TMA = (SMA1 + SMA2 + SMA3 + SMA4 +... + SMA ? n)/ _ n Periods

The indicator plots the TMA points in chronological order. This creates a moving average line which follows the price movements.

How to Use the TMA Indicator For MT4

TMA Indicator offers a few options in its indicator settings that traders can use to alter the TMA line's characteristics.

"Periods", which refers to the number bars or periods that the indicator would use in order to calculate the TMA line, are also known as "Periods". This variable can be used to modify the TMA line's sensitivity.

"Apply" refers the candle's price point that the indicator will use to calculate its value. This version of the TMA line allows users to alter this input, even though it uses the closest price as its standard. These are the available options, along with their respective price points.

  • Close
  • 1 - Open
  • 2 - High
  • 3 - Low
  • 4 - Median price (HL/2)
  • 5 - Average Price (HLC/3)
  • 6 - Weighted Close (HLCC/4)


How the TMA Indicator Works

TMA lines can be used to filter for trend direction. Traders would use the TMA line as a trend direction indicator. This means that traders could identify trend direction based upon where price action is relative to the TMAline as well as its slope.

You can use it as a trend reverse signal indicator by crossing the TMA and price lines. This indicator should not be used alone.

Trade Setup

How to Enter?

When a bullish momentum candle closes higher than the TMA line, open a buy order.

When do you want to exit?

When the TMA line is reached, close the trade.


How to use the TMA Indicator for MT4 - Buy Trade

Setup for Trades

How to Enter?

When a bearish momentum candle closes lower than the TMA line, open a sell order.

When do you want to exit?

When the TMA line is crossed, close the trade.


How to use the TMA Indicator for MT4 - Sell Trade

Conclusion

The TMA line is a useful indicator of moving averages. It is a smoothened line of moving average. It can also be slow. This indicator can be used to indicate a reversal, but it is best used as a trend direction indicator or filter.

Indicators - Download Instructions TMA Indicator for MT4 (Metatrader 4 or MT4) is a Metatrader4 (MT4) indicator. Its purpose is to transform the accumulated historical data.

TMA Indicator for MT4 allows you to spot patterns and peculiarities in price dynamics that are not visible to the naked eye.

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How do I install the TMA Indicator in MT4.mq4

  • Download the TMA Indicator to MT4.mq4
  • Copy the TMA indicator for MT4.mq4 into your Metatrader directory / experts/ indicators
  • Metatrader 4 Client can be restarted or started
  • Choose Chart and Timeframe to test your MT4 indicator
  • You can search "Custom Indicators" using your Navigator, mostly left in your Metatrader4 Client
  • Right click on TMA indicator for MT4.mq4
  • Attach a chart
  • Change settings or click ok
  • Your Chart contains the TMA indicator for MT4.mq4

How do I remove the TMA indicator for MT4.mq4 in my Metatrader Chart?

  • Select the Chart in which the Indicator is running in your Metatrader4 Client
  • Right-click to open the Chart
  • "Indicators list"
  • Select the indicator and click delete

TMA indicator for MT4 (Free download)





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