TMA Indicator for MT5

TMA or triangular moving average is a simple MT5 indicator that draws a single moving average on the chart. The indicator focuses on price action and shows the direction of the trend. When the TMA is below the price, it indicates an uptrend. Conversely, when the indicator is higher price, it signals a downtrend. Think of the Triangular Moving Average normal moving average. As with the traditional MA, you can use any other TMA indicator to get more accurate information. The indicator is called triangular because of its structure. It forms a triangular wave-like structure indicating the direction of the trend. How to trade using the TMA indicator? The TMA works like a traditional moving average, so you need to use it trend following indicator in order to trade with it. The advantage of trend-following indicators is that they can indicate exact buy and sell points. As mentioned earlier, the indicator follows the price course. Therefore, when the price is above the TMA, it is up and you should go long. On the other hand, when the price is below the triangular moving average, it indicates a downtrend and you should go short. The indicator is useful in that you can easily navigate the price action. You can then decide when to enter and exit the trade. Generally, moving average indicators work best with oscillators such or MACD. So you need to combine the Triangular Moving Average with them to reduce market noise. Let's find out the strategy of buying and selling by the indicator: Triangular Moving Average indicator buy strategy The TMA indicator must be below the price action. Wait until the price completely crosses the TMA from below. Open a trade when the price rises above the indicator. Place a stop loss near the low of the buy point. Close the trade when the price falls below the TMA. Triangular Moving Average indicator sell strategy The TMA indicator must be above the price action. Wait until the price completely crosses the TMA from top to bottom. Open a trade when the price drops below the indicator. Place a stop loss near the sell high. Exit the trade when the price rises above the triangular moving average. Conclusion The triangular moving average is a must if you are trend trading tells you the direction of the main trend. You can use the TMA indicator on any timeframe follows the trend. You can also combine the indicator with other forms of technical analysis such patterns and oscillators such or Stochastic.