The Extreme TMA Line Signal indicator for Metatrader 5 delivers accurate buy and sell signals based on the TMA and ATR technical indicators.
The indicator gets displayed in the price chart as a trading signal channel.
It’s an easy to use signals indicator for both beginners and seasoned currency traders.
How to trade with it?
- The green colored TMA signal line indicates a buy trend.
- The red colored TMA signal line indicates a sell trend.
The following indicator inputs and parameters can be modified: TMA period, ATR period, ATR multiplier, trend threshold, redraw.
For scalping and intraday traders: the indicator tends to produce the best results during the London and American trading sessions.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
Download Indicator 🆓
The following chart shows how the Extreme TMA Line Forex Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Extreme TMA Line Signal Indicator?
Find a simple trading example below:
- The appearance of the green colored TMA signal line is a buy trade signal.
- Open a buy trade and place you initial stop loss slightly below the lower gray channel line.
- Close the buy trade as soon as the gray colored thick line gets displayed on the chart.
- The appearance of the red colored TMA signal line is a sell trade signal (see chart above).
- Open a sell trade and place your initial stop loss slightly above the upper gray channel line.
- Close the sell trade as soon as the gray colored thick line gets displayed on the chart.
Download Now 🆓
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 Extreme_TMA_line_indicator.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