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MTF LRMA is designed to convert historical data, providing the ability to detect various patterns of price dynamics. The MTF LRMA indicator is an improved, and thus the most accurate and effective version of the LRMA indicator. The indicator, like the previous version, is presented in the form of a moving average, but at the same time it is a modification the version also has an additional signal and the ability to trade on any timeframe. MTF LRMA can be used absolutely on any timeframe, as it will not affect the quality of the indicator in any way. Any currency pair can also be used.
Input parameters
The MTF LRMA indicator has only four parameters that characterize the values of both moving averages included in it.
- - LRMA period-value of the period of the main line of the indicator that performs the basic calculation. The default value is 34.
- -Signal period-period of the signal line of the indicator. The default value is 5.
- - LRMA timeframe - a separate timeframe on which the values of the main line of the indicator will be calculated. The default value is 1 Hour.
- -Drawing mode-type of drawing lines. This parameter contains two items: Slopes, that is, along inclined lines, Steps-by gradual steps. The default value is Steps
Indicator signals
Like many identical indicators based on moving averages, MTF LRMA generates a main signal at a certain intersection of the main and signal lines. The intersection of two lines can be considered a signal to open positions.
Signal for Buy trades:
- - Both lines of the indicator move upwards.
- -After crossing the signal and the main line of the indicator, the main line began to be above the signal.
After the formation of these conditions on a certain candle, a signal is formed to open a long position. Accordingly, the reverse intersection of the lines will be a signal to close the trade.
Signal for Sell trades:
- -Indicator lines are directed from bottom to top.
- - The signal line of the indicator, after crossing with the main one, began to be above it.
If these conditions matched on a certain candle, then it should be opened a short position. It should be closed after the reverse intersection of these lines.
Conclusion
The MTF LRMA indicator uses more accurate calculations, unlike the previous version. The presence of an additional line, as well as the ability to trade on any timeframe, makes trading more convenient. However, for more confident trading, it is recommended to use additional indicators and tools. For accurate mastering of the indicator, it is recommended to use a demo account beforehand.
