Our custom developed Forex TMA Direction Indicator. The triangular moving average (TMA) is a technical indicator that is similar to other moving averages. The TMA shows the average (or mean) price of an asset over a specified number of data points—usually a number of price bars. However, the triangular moving average differs in that it is double smoothed—which also means averaged twice.
A triangular moving average can be calculated using various input data, such as prices, volume, or other technical indicators. Triangle moving averages are most often applied to the price of an asset. The moving average overlays the price bars on a chart. It can also overlay the volume indicator if being applied to volume or any other indicator chosen by the trader.
Feel free to use this indicator together with our other technical indicators (oscillators, momentum) or price action methods to maximize your trading accuracy.
The EUR/GBP 15 minute chart below displays the Forex TMA Direction Indicator in action.
Copy and paste the Forex TMA Direction Indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove Indicator from your Metatrader Chart?
- Select the Chart where is the Indicator running in your Metatrader 4 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete