Double TMA with Reversal Zones
- Göstergeler
- Clayton Aaron Prickett
- Sürüm: 1.3
Note from Developer:
This is the lite version of the Double TMA with Bands Indicator.
I will be uploading a paid version that comes with alerts and on screen signal arrows built in.
I will also be selling an EA based on this trading system once all backtesting and optimization have been completed.
Unlock your trading potential with the Double TMA Indicator with Reversal Detection!
Designed for swing and reversal trading, this versatile tool integrates two Triangular Moving Averages (TMA) for identifying trend direction and optimal entry and exit point detection.
It comes equipped with upper and lower "Reversal Zones" made up of ATR multiple bands - excellent for identifying possible reversal entries and offering traders insight into the market trend.
Key Features:
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Dual TMAs (Triangular Moving Averages): The indicator features both a slow and a fast TMA to help identify trend directions and momentum shifts.
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Multiple ATR Bands: Upper and Lower "Reversal Zones" calculated from the upper and lower ATR multiple bands of the TMA Slow to highlight significant price levels, aiding in the identification of potential price reversals.
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Color-Coded Slope Detection: Easily distinguish between upward, downward, and neutral trends with color-coded lines.
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Clear Buy and Sell Signals (Only available on Paid Version): Sends alerts and plots buy, sell, and exit arrows on your chart making it easy to identify trading opportunities based on trend changes and confirmed price actions.
How to Use the Double TMA with Bands Indicator:
Trading Long Positions:
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Entry Signal:
- Look for the slow TMA to have an upward slope.
- Wait for the fast TMA to shift from a downward slope to an upward slope.
- Once the trend change is confirmed with a candle close, enter a long position at the open of the next candle.
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Exit Signal:
- Exit the position when the fast TMA changes from an upward slope to a downward slope, confirmed by a candle close.
- Alternatively, if the price crosses into and closes within the purple Sell Reversal Zone, exit on the next candle open.
Trading Short Positions:
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Entry Signal:
- Look for the slow TMA to have a downward slope.
- Wait for the fast TMA to shift from an upward slope to a downward slope.
- Once the trend change is confirmed with a candle close, enter a short position at the open of the next candle.
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Exit Signal:
- Exit the position when the fast TMA changes from a downward slope to an upward slope, confirmed by a candle close.
- Alternatively, if the price crosses into and closes within the green Buy Reversal Zone, exit on the next candle open.
Why Choose This Indicator?
The Double TMA with Bands Indicator provides a robust framework for traders to capture significant market moves while minimizing false signals. The combination of TMAs with ATR bands allows for a nuanced approach to trading, where both trend direction and volatility are considered. The clear visual cues on the chart make it easy to make informed trading decisions.
Get Started Today!
Enhance your trading strategy with the Double TMA with Bands Indicator. Simply download and install it on your MT5 platform, adjust the settings to match your trading style, and start capitalizing on market trends with greater accuracy and confidence.
