The MAMA Forex indicator developed for Metatrader 5 detects the most advantageous currency trends by utilizing an effective crossover trading strategy.
It consists of two technical indicators: MAMA and FAMA.
Spotting the market trend with this indicator:
- A bullish trend is indicated when the MAMA indicator crosses above the FAMA indicator from below.
- A bearish trend is generated when the MAMA indicator crosses below the FAMA indicator from above.
You can adjust the following indicator inputs according to your preferences: MAMA color and FAMA color.
Make yourself familiar with this solid technical indicator and test it first on a demo account.
The MAMA Forex indicator supports all time frames and Forex pairs offered by the MT5 charting platform.
Free Download
Chart Example
The following picture shows how the MAMA indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The MAMA Trend Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is confirmed when the green colored MAMA line crosses the red colored FAMA line bottom up.
- Open a long market transaction and place your stop loss below the most recent swing low price.
- Close the buy trade for a risk/reward ratio of at least 1.5, or await a sell signal.
Sell Signal
- A sell signal is confirmed when the green colored MAMA line crosses the red colored FAMA line top down.
- Open a short market transaction and place your stop loss above the most recent swing high zone.
- Close the sell trade for a risk/reward ratio of at least 1.5, or await a buy signal.
