Triangular Moving Average Forex Indicator
The tma_slope_nrp_alerts indicator for MetaTrader4 is a technical tool that is built on the triangular moving average (TMA), which is obviously similar to other moving averages as it depicts the mean price over a given number of price bars.
Interestingly, the tma_slope_nrp_alerts indicator is double smoothed i.e. it is averaged twice. We can confidently say that the tma_slope_nrp_alerts indicator is a double-smoothed Simple Moving Average, offering more weight to the price bar’s mid-area.
There’s a significant lag to current prices that the tma_slope_nrp_alerts indicator yields that makes it unsuitable for fast moving market, meaning if you’re using this indicator for signal, it would react too slowly.
The tma_slope_nrp_alerts indicator price lag might be a blessing. The tma_slope_nrp_alerts indicator does not react as much when price moves back and forth as seen in range markets – meaning you’re aware that the trend hasn’t altered.
There needs to be a sustained price move in order for the tma_slope_nrp_alerts indicator to alter its directions. The tma_slope_nrp_alerts indicator plots an average of an average, which shoots up a line on the activity chart that obviously moves longer and steadier than the simple moving average.
Enter a buy order if the tma_slope_nrp_alerts indicator’s dotted line turns aqua and go bearish if the dotted lines of the tma_slope_nrp_alerts indicator turns red.
As we have earlier noted, this signals might be delayed, but they sure can keep you in the trend longer, thereby yielding bigger profits.
Howbeit, when the trend does changes direction, the tma_slope_nrp_alerts indicator might react slowly, meaning you might have to combine the tma_slope_nrp_alerts with another indicator.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (Fast Tma, Slow Tma, TmaPrice, ArrowsOnSlope, hiLevel, loLevel, note, alertsOn, alertsOnSlope, alertsOnCurrent, alertsMessage, alertsSound, alertsEmail), Colors, width & Style.
Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours