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TMA Indicator

The TMA Indicator for MT5 displays the market trend direction accurately. The indicator works by taking the average of the closing prices of a certain number of periods and then plotting it on a chart. It is a popular choice for traders because it is free and easy to use.

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Description

The Triangular Moving Average, otherwise known as TMA, is an optimized version of the moving average indicator for the MetaTrader 5 platform. This technical indicator smoothed the price of an asset, making it responsive in identifying trend reversals more effectively.

Unlike the traditional moving average, the TMA indicator is very responsive, lags less behind the price, and filters market noise. Therefore, it accurately identifies trend reversal and direction of the market compared to the moving regular average.

Features of the TMA Indicator for MT5

The TMA indicator is a multi-timeframe tool displayed as a line on the price chart, enabling traders to identify the trends and trading opportunities across multiple time frames. It depicts a bullish trend when the price of an instrument crosses above the line, indicating a potential buying opportunity.

Conversely, a bearish trend is when the price closes below the TMA line, which suggests a potential selling opportunity. Furthermore, the indicator allows users to customize the parameters to their trading styles and preferences. For instance, traders can adjust the indicator’s period to suit their strategies.

Benefits of Using the Indicator

  • Accurate Trend Identification: The indicator is responsive to price changes and filters noise, which enables traders to identify market trends accurately.
  • Beginner-Friendly: The TMA indicator depicts bullish and bearish sentiment when the price is above/below the line, making it easy for even a beginner to interpret the market trend at a glance.
  • Trade Confluence: The indicator can be used as a confirmation tool with price action/other technical indicators to make objective trading decisions like entries or exits.

Indicator Settings Description

The indicator comes with the following customizable settings:

Periods: Defines the period of the moving average for trend analysis.

Apply To: Determines the price data used for calculation.

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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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