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Extreme Tma Line

The Extreme TMA Line Indicator for MT5 is a popular and free forex indicator that is useful for traders. The indicator uses a TMA (Triangular Moving Average) line to indicate the trend direction and strength. This line is drawn on the chart, and it changes its color depending on the direction of the trend. This indicator is easy to use and understand, making it popular among forex traders. It is also free to use and can be downloaded from the IndicatorSpot website.

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Description

The Extreme TMA Line Indicator is a best free Forex indicator compatible with the MetaTrader 5 trading platform. This indicator utilizes the Time Moving Average (TMA) line to identify trends and generate reliable buy and sell signals. By combining the TMA line with a moving average, it effectively identifies trading opportunities based on market trends. The Extreme TMA Line Indicator is suitable for various time frames, but it tends to perform best on longer time frames due to its trend-following nature. Its ability to accurately identify trends and generate signals makes it a valuable tool for traders seeking profitable trading opportunities.

Features of the Indicator

The Extreme TMA Line Indicator incorporates several features that traders find particularly valuable. It plots the TMA line on the chart, which is calculated using the average of recent and current price movements. This line provides a clear indication of the market’s trend, making it easier for traders to identify whether the price is in an uptrend or a downtrend.

Additionally, the indicator generates buy and sell signals based on the trend derived from the TMA line. When the price is above the TMA line, it signals an uptrend, while a price below the TMA line indicates a downtrend. Traders can utilize these reliable signals to identify potential buying or selling opportunities in line with the prevailing market trend.

How the Indicator Can Benefit You

The Extreme TMA Line Indicator offers several benefits to Forex traders. Firstly, it enables traders to accurately identify trends in the market, providing them with crucial information for making informed trading decisions. By understanding the market’s direction, traders can align their strategies accordingly, enhancing the likelihood of profitable trades.

Moreover, the buy and sell signals generated by the Extreme TMA Line Indicator offer traders reliable entry and exit points. These signals can be used to time trades effectively and capitalize on potential profitable opportunities. By following the signals provided by this indicator, traders can enhance their decision-making process and increase their chances of success.

Furthermore, the Extreme TMA Line Indicator is a versatile tool suitable for traders of all levels of experience. It can be utilized on various currency pairs and time frames, allowing traders to adapt their strategies to different market conditions.

Indicator Settings

TMAPeriod: The default value is 45, indicating the period used for the moving average calculation.

ATRPeriod: The default value is 100, representing the period used for the Average True Range (ATR) calculation.

ATRMultiplier: The default value is 1.272, signifying the multiplier applied in the ATR calculation.

TrendThreshold: The default value is 0.5, denoting the threshold value for determining the trend.

Redraw: Enables the indicator to be redrawn by obtaining new data.

Conclusion

In conclusion, the Extreme TMA Line Indicator is a super tool for Forex traders seeking profitable trading opportunities. With its ability to accurately identify trends and generate reliable buy and sell signals, this indicator assists traders in making informed trading decisions. By incorporating this indicator into their trading approach, Forex traders can optimize their trading strategies and increase their chances of success in the dynamic currency market.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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