The AMA To KAMA Forex Signal indicator for Metatrader 5 adds KAMA to the classic AMA indicator and transforms it into a wonderful trend trading tool.
The indicator appears in a separate chart window as a colored trend-following histogram bars.
AMA to KAMA generates cross-over buy and sell signals that look pretty accurate.
How to interpret this indicator?
- A green colored trend bar is bullish.
- A red colored trend bar is bearish.
The following indicator inputs and parameters can be modified: period, fast end period, slow end period, KAMA smoothing power, price.
The AMA To KAMA indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the AMA To KAMA Cross indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The AMA To KAMA Signal Indicator?
Find a simple trading example below:
- A buy signal is given when the first green colored AMA To KAMA bar gets displayed on the chart.
- Open a buy trade and place your stop loss 3 pips below the most recent support area.
- Close the buy trade for a fixed take profit target of your preference, or wait for a sell trade.
- A sell signal is given when the first red colored AMA To KAMA bar gets displayed on the chart.
- Open a sell trade and place your stop loss 3 pips above the most recent resistance area.
- Close the sell trade for a fixed take profit target of your preference, or wait for a buy trade.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the AMA to KAMA crosses (histogram).mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration