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TMA Indicator

The TMA indicator for MT4 is the best forex indicator for MT4 that defines the trend direction of the market. This indicator is a popular choice among traders and is available for free on the MT4 platform.

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Description

The TMA (Triangular Moving Average) indicator is a custom trading tool for technical analysis on the MetaTrader 4 (MT4) platform that smooths the price data and identifies the true market direction. It is a chart-friendly tool and can be used along with other technical indicators for better market analysis.

What is a TMA indicator?

The TMA indicator helps Forex traders identify the true market trend using a synergy of multiple moving averages. It employs a triangular calculation method, which involves applying three moving averages to create a single line. The line (formed by combining the moving averages) shows harmony in trend analysis generated by three moving averages.

So, the indicator provides a better trend analysis of the market. It signals that the market trend is bullish when the price closes and remains above the TMA line. Similarly, a potential bearish trend is when the price closes and remains below the line.

Features of the Indicator

The TMA indicator responds quickly to the price change, smoothing out false price movement, and then displays the true direction of the trend. It is also optimized to adjust to varying market volatility.

Finally, the indicator’s parameters are fully customizable.

Benefits of Using the Indicator

  • Trend Identification: TMA helps traders identify the direction of the market. A price above the TMA suggests a bullish trend, while a potential bearish trend is when the price is below the TMA.
  • Entry and Exit Zones: The TMA can be used to identify a suitable zone for trade entry or exit. For instance, a Forex trader may look for a buying opportunity when the price crosses above the TMA line.
  • Reduced Noise: The indicator filters short-term price fluctuations and displays the clear market direction.
  • Confluence for Analysis: Finally, TMA can be used as a confluence during technical analysis to make better trading decisions.

Indicator Description Settings

The indicator comes with the following customizable settings:

Periods: Defines the periods of the period of the moving average.

Apply to: Determines how the moving average is applied to the price.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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