The HMA Mega Trend indicator for mt4 (Metatrader 4) delivers non-repainting trading signals based on the Hull Moving Average and a digital filter.
The indicator appears in a bottom chart window in the form of colored buy and sell arrows together with a green/red signal line.
Buy & Sell Trade Example
- A white colored arrow is a buy signal.
- A magenta colored arrow is a sell signal.
The HMA Mega Trend indicator can be used for both trade entries and exits.
Feel free to combine the indicator with your favorite trading strategy or system for double signal confirmation.
For scalping and day trading, the indicator performs best during the London and New York trading sessions.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “MegaTrend HMA.mq4” indicator for MT4
Indicator Chart (EUR/USD H4)
The picture below shows the HMA Mega Trend mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the HMA Mega Trend indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Signals
Does the indicator repaint? No.
HMA Mega Trend and EW Forex Trend Scalping Strategy
The MT4 HMA Mega Trend and EW Trend Scalping Strategy is designed for quick, high-probability scalping trades on M1, M5, and M15 charts.
This strategy combines trend direction signals from the HMA Mega Trend Indicator with momentum confirmations from the EW Trend Indicator.
It is ideal for traders who want fast intraday setups with clear entries and exits on volatile currency pairs.
The HMA Mega Trend Indicator provides trend arrows: white arrows indicate a buy trend and magenta arrows indicate a sell trend.
The EW Trend Indicator confirms momentum by signaling buy opportunities when it jumps above 0.00 and sell opportunities when it drops below 0.00.
By combining these indicators, traders can enter trades that follow both trend direction and momentum strength.
Buy Entry Rules
- HMA Mega Trend Indicator shows a white arrow for a buy trend.
- EW Trend Indicator jumps above 0.00, confirming bullish momentum.
- Enter a long trade at the open of the next candle.
- Place a stop loss below the most recent swing low or below the EW Trend zero level.
- Take profit at the next resistance level or when the EW Trend drops below 0.00.
Sell Entry Rules
- HMA Mega Trend Indicator shows a magenta arrow for a sell trend.
- EW Trend Indicator drops below 0.00, confirming bearish momentum.
- Enter a short trade at the next candle open.
- Place a stop loss above the most recent swing high or above the EW Trend zero level.
- Take profit at the next support level or when the EW Trend jumps above 0.00.
Advantages
- Combines trend arrows and momentum confirmation for higher probability trades.
- Works across multiple timeframes for scalping flexibility (M1, M5, M15).
- Helps avoid false entries by confirming both trend and momentum.
- Clear visual signals allow quick decision-making for intraday trades.
- Suitable for major and minor currency pairs.
Drawbacks
- Performance may decline on low-liquidity pairs or during off-market hours.
- Not suitable for swing trading or longer-term positions.
Case Study 1: GBP/JPY M1
During the London session, the HMA Mega Trend Indicator showed a white arrow, and the EW Trend Indicator jumped above 0.00.
A buy trade was entered at 192.50 with a stop loss at 192.40 and a take profit at 192.70.
The price moved upward, capturing +20 pips within 15 minutes.
Combining trend direction with momentum confirmation ensured a precise and profitable scalp.
Case Study 2: EUR/JPY M5
During the Tokyo session, the HMA Mega Trend Indicator displayed a magenta arrow, and the EW Trend Indicator dropped below 0.00.
A sell trade was placed at 148.80 with a stop loss at 148.95 and a take profit at 148.50.
The trade reached the target within 30 minutes for a +30 pip gain, demonstrating how combining both indicators provides effective short-term entries.
Strategy Tips
- Trade during active sessions for stronger trends and momentum.
- Use tight stop losses to manage risk on short timeframes.
- Consider partial profit-taking for volatile pairs to secure gains.
- Focus on major pairs with tighter spreads for scalping efficiency.
