The Zero Lag TEMA Ultra Trend indicator for Metatrader 5 follows the trend and works in a similar fashion to the zero lag ultra trend moving average version.
TEMA stands for triple exponential moving average.
Essentially, the indicator follows the best trend at any given moment without lag.
How does it work?
- Green colored Zero Lag TEMA clouds represent uptrending markets.
- Orange colored Zero Lag TEMA clouds represent downtrending markets.
The following indicator inputs and parameters can be modified: start period, step, instances, ultra trend smoothing period.
It supports all time frames, Forex pairs, Indices, Stocks, Metals, etc.
Make yourself familiar with this technical indicator and test it first on a demo account before using it on real trading account.
Please note: there’s no indicator ever developed that generates 100% accurate trading signals measured over a prolonged period of time.
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The following chart shows how the Zero Lag TEMA Ultra Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Zero Lag TEMA Ultra Trend Forex Indicator?
Find a simple trading example below:
- A buy signal occurs when the green TEMA cloud appears in the chart.
- Open a buy order and place a stop loss slightly below support.
- Exit the buy trade for a fixed profit target or wait for a sell signal (orange colored cloud).
- A sell signal occurs when the orange TEMA cloud appears in the chart.
- Open a sell order and place a stop loss slightly above resistance.
- Exit the sell trade for a fixed profit target or wait for a buy signal (green colored cloud).
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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 Ultra trend – zero lag tema.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