The Triangular Moving Average, or TMA Indicator For Metatrader is an indicator easily derived from the popular Moving Average.
In this article you can see what is a TMA and download TMA Indicators for MT4 and MT5.
What Is The TMA Indicator For Metatrader
You surely know the popular Moving Average indicator. It is basically a line connecting the average value of the price in a specified period of time.
The moving average strategies usually perform well in trending market however they suffer in ranging market. This is because the moving average fluctuates quickly.
To obtain a smoother version of the moving average you can use the Triangular Moving Average.
The Triangular Moving Average, also know as TMA, is a moving average of the moving average.
This results in a smoother version of the moving average.
In other words, a TMA is a double smoothing of the price fluctuations.
How To Use The TMA Indicator
One of the most basic strategies is to buy when the price is above a moving average and sell viceversa.
This type of strategy suffer when the moving average fluctuates too quickly, visible in whipsaws between MA and Price.
The TMA mitigates this side effect due to its smoothed line.
This doesn’t mean that it doesn’t suffer at all, but at least the side effect is reduced.
TMA Alert Indicator For MT4 And MT5
The TMA Alert indicator is a basic TMA Line indicator with some added features.
With the TMA Alert Indicator you can be notified when the price crosses the TMA Line.
Also, you can see on chart arrows at the bar where the cross happens.
TMA Slope Alert Indicator For MT4 And MT5
The TMA Slope Alert indicator is a modified version of the normal TMA.
With the Slope of the TMA a trader can gauge an understanding of the momentum of the move.
When the slope is above zero there is a likely uptrend and downtrend in the opposite case.
The Slope also provide an indicator of the momentum getting stronger or weaker.
With the TMA Slope Alert Indicator you can be notified when the Slope crosses the zero level.
Also, you can see on chart arrows at the bar where the cross happens
To install the indicators please follow the instructions below:
- Download the indicator file
- Open the Metatrader Data Folder (In File > Open Data Folder)
- Open the MQL4 Folder, or MQL5 for MT5
- Copy the file in the Experts folder
- Restart Metatrader
For more detailed instruction on how to perform the installation please visit this article.
In this article you saw the TMA Indicator and one of the variant.
Triangular Moving Average TMA can be used for trend following, trend reversal and momentum.
You also saw two indicator that you can add to your toolbox.
Please feel free to leave a feedback regarding the indicator or Contact Us for anything else.