The Triangular Moving Average (TMA) indicator for Metatrader 5 behaves in a similar fashion to classic moving averages and delivers buy/sell signals.
TMA double-smooth price data and responds slower to fast trend changes.
This may result in fewer whipsaw trading signals.
TMA can be used as a standalone buy/sell technical tool or combined with an oscillator to pinpoint trade entries and exists more accurately.
How to trade with it?
- A green colored TMA line represents an uptrending market.
- A magenta colored TMA line represents a downtrending market.
The following indicator inputs and parameters can be modified: period, price, style, color.
TMA should work equally well across all time frames and trading instruments (Forex, Gold, Indices, Stocks, etc.).
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
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The following chart shows how the Triangular Moving Average indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Triangular Moving Average Indicator?
Find a simple trading example below:
- A buy signal is given when the green colored Triangular Moving Average gets displayed on the price chart.
- Initiate a long trade and place your stop loss below the most recent swing low level.
- Reverse the buy position when the magenta colored Triangular Moving Average appears on the trading chart.
- A sell signal is given when the magenta colored Triangular Moving Average gets displayed on the price chart.
- Initiate a short trade and place your stop loss above the most recent swing high level.
- Reverse the sell position when the green colored Triangular Moving Average appears on the trading chart.
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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 Triangular moving average.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