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TMA Line extreme is a trading indicator whose calculations are based on the use of the Moving Average and ATR, standard forex indicators. The indicator uses its calculations to identify the current trend, namely its presence, direction and strength, which in turn also allows determining the opening moment trades. It is displayed directly in the main window of the price chart in the form of a channel consisting of three lines: the upper, lower borders and the main line. The channel of the indicator lines moves in a certain direction, while its main line also changes color. When determining the current trend and trading during this period, the indicator values are taken into account.
The TMA Line extreme indicator is suitable for trading on any timeframe using any currency pairs. At the same time, the indicator can also be used in multi-timeframe mode.
Input parameters
There are several sections in the settings of the TMA Line extreme indicator. Each of them is responsible for its general interaction. The Input parameters section is responsible for its technical work, the Colors section for its general visualization.
-TimeFrame - parameter for using the trading timeframe. The default value is Current.
-TMA Period - the period for calculating the moving average of the indicator. The default value is 45.
-Price - type of the price to which the indicator calculations are applied. The default value is 4.
-ATR Multiplier - ATR indicator multiplier value. The default value is 1.272.
-ATR Period - calculation period of the ATR indicator. The default value is 100.
-Trend Threshold - threshold for trend calculation values. The default value is 0.5.
-ShowCenterLine - whether the main line is on the chart. By default, it is set to true.
-alertsOn - parameter for the presence of indicator signals. The default value is true.
-alertsMessage - Message notification option. Default is true.
-alertsSound - option to sound notification when alerted. The default value is true.
-alertsEmail - Alert parameter in the form of an email. The default value is false.
-alertsMobile - parameter for receiving an alert on a mobile device. The default value is false.
-soundFile - indicator notification sound file. Default value is alert2.wav.
Indicator signals
To open a certain trade using the TMA Line extreme indicator, it should be determined the current trend. To do this, it should be taken into account the general direction of the channel as well as the color of its main line. At the moment when the line has a neutral hue, the current trend weakens and trades are not opened at all. If the current trend the market is upward, long positions are opened, if the trend is downward, short positions are opened. The current trend must be confirmed by the indicator signal. When the trend changes, in both cases, trades are closed.
Signal for Buy trades:
- The indicator channel is directed upwards and its main line has a color with a growth value.
Upon receipt of such a condition on a signal candle, a buy trade may be opened, due to the presence of an uptrend. When the trend direction changes, namely, upon receipt of reverse conditions from the indicator, the current trade should be closed and a new one should be considered.
Signal for Sell trades:
- The indicator lines are directed downwards, while the central line has a color with a falling value.
A sell trade can be opened immediately upon receipt of such conditions on a signal candle. At this moment, the presence of a downtrend is determined in the market. Close the current trade and consider opening a new one should be at the moment of a trend change, namely, upon receipt of reverse conditions from the indicator.
Conclusion
The TMA Line extreme indicator is a very efficient trading system based on the interaction of time-tested accurate trading algorithms. Despite the fact that the indicator is very easy to use, practice on a demo account is recommended before using it on a real deposit.
