Signal trading indicator TMA Slope for MT4

The TMA Slope indicator, which can also be called TMA Slope NRP Alerts, is designed as a small trading system designed to determine the current trend and its strength. Its calculations are based on the use of two triangular moving averages, better known as TMA, the principle of operation of which is practically the same from other moving averages.

The indicator itself is presented in the lower window of the price chart in the form of a histogram with an additional signal line, which, like the histogram itself, is painted in one of two colors, taking into account current market conditions, and the histogram, like its line, can be located above or below relative to the zero level. The indicator can be used on any timeframe using any currency pair.

Input parameters

The TMA Slope indicator includes thirteen input parameters that affect the system operation of the indicator, as well as the reproduction of signals by it in a form convenient for the trader. In addition, in the Colors section, the color scheme of the indicator and the width of its parameters can be completely changed, and in the Levels section, additional levels can be added, in addition to the already added 0.

• Fast TMA - fast moving indicator period. The default value is 25.

• Slow TMA - period of the slow triangular moving average. The default value is 50.

• TMA Price - the price to which the indicator calculation will be applied. The default value is 5, that is, the Medium price will be used.

• Arrows on Slope - parameter responsible for the appearance of arrows on the chart when the TMA slope is received. The default value is true.

• hiLevel - value of the higher signal level of the indicator. The default value is 0.005.

• loLevel - value of the lower signal level of the indicator. The default value is -0.005.

• Note - turn on Alert=true, turn off Alert-false

• alertsOn - parameter responsible for turning on notifications after the indicator receives a signal. The default value is true.

• alerts On Slope - parameter that, when set to true, will give an alert when the TMA lines slope. The default value is true.

• alerts On Current - parameter responsible for playing the signal on the current candle. The default value is false.

• alerts Message - parameter that sends a message when a signal is received. The default value is true.

• alerts Sound - parameter responsible for playing a sound notification when a signal is received. The default value is true.

• alerts Email - parameter responsible for sending alert notifications to email when set to true. The default value is false.

Indicator signals

According to the principle of operation of all histogram indicators, TMA Slope generates a signal for opening positions after determining the current market trend, which is determined taking into account the color of the histogram and its location relative to the zero level. Then, after the trend has been determined, its strength is determined, since the stronger the trend, the more efficient and profitable the trade will be. The strength of the trend is determined taking into account the direction of its signal line, if during an uptrend it goes up, coloring in color with an increase value, then the current trend is strong and it weakens with a change in color and direction, the same with a downtrend - if the signal line turns into a color with a falling value, while heading down, then the current downtrend is strong. Thus, taking into account the current trend and its strength, certain trades can be opened.

Signal for Buy trades:

• At least three bars of the histogram that is above the zero level are colored with a growth value.

• At the same time, its signal line is also above the zero level and moves up, while turning into a color with a growth value.

Upon receipt of such conditions, a long position can be opened on a certain candle, which should be closed after the histogram, together with its signal line, drops below the 0 level and acquires a different color. Since in this case it is better to consider opening new positions.

Signal for Sell trades:

• The indicator falls below the zero level, and its bars acquire a color with a falling value. This indicates the beginning of a downtrend.

• The signal line of the indicator with a color of falling value crosses the level 0 downwards.

After the formation of such conditions, a short position can be opened on a certain candle. It should be closed after the histogram and signal line of the indicator crosses its zero level upwards and acquires a color with a growth value, in which case opening new trades should be considered.

Conclusion

The TMA Slope indicator is very efficient in use, which will allow making any trades with a good profit. Thanks to the presence of signal notifications, the indicator is also very easy to use. With the right application of the indicator in practice, it can be easily achieved the desired results from any trades. However, before mastering the skills of using in practice, it is recommended to prematurely use a demo account.