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TMA Slope

The TMA Slope Indicator is a useful and popular free Forex indicator for the MT4 trading platform. The indicator uses two moving averages and calculates the angle of the slope between them. When the angle is above a certain threshold, it indicates a possible trend reversal. The indicator also provides traders with visual cues, such as a red line and a blue line, to help them identify potential trend reversals. The indicator is easy to use and can be quickly added to any MT4 chart.

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Description

The TMA Slope Indicator, a powerful and free-to-use tool designed to help traders navigate the intricate dynamics of the foreign exchange market.

Features of the TMA Slope Indicator

The TMA Slope Indicator is built upon a foundation of technical analysis, employing a unique algorithm to provide traders with a clear and concise representation of the current market trend. At the heart of this indicator lies a triple-smoothed moving average (TMA), which is used to generate a histogram-style display on your trading charts.

The histogram bars are color-coded, with green indicating an uptrend, red signaling a downtrend, and gray representing a neutral market. This visual representation allows traders to quickly assess the direction and strength of the prevailing trend, empowering them to make more informed trading decisions.

How the TMA Slope Indicator Can Benefit You

By incorporating the TMA Slope Indicator into your trading arsenal, you gain a significant advantage in the forex market. The ability to instantly identify the current market trend, whether bullish, bearish, or neutral, can help you time your buy and sell orders more effectively, potentially leading to increased profitability.

The color-coded histogram provides a clear and easy-to-interpret signal, allowing you to make better-informed trading decisions based on the prevailing market conditions. Whether you’re a seasoned trader or a newcomer to the forex landscape, the TMA Slope Indicator can be a valuable addition to your trading strategy.

Indicator Settings

TMA Slope

Select_other_tf_to_show: this allows the indicator to display information based on a supplementary or secondary time scale, beyond just the primary time frame being analyzed.

Position, Timeframe, Color Setting.

Conclusion

The Indicator is a powerful and user-friendly tool that can elevate your forex trading experience. By providing a visual representation of the current market trend, this indicator empowers traders to make more informed decisions and potentially improve their overall trading performance. Download the TMA Slope Indicator for MT4 today and take the first step towards a more profitable and successful trading journey.

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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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