TMA Slope Indicator for MT4 | Free Download
The TMA Slope Indicator for MT4
The TMA Slope Indicator is a custom Indicator which works as an oscillator.
It is visually appealing, and the Indicator plots buy and sell signals as and when the oscillator cuts across the zero line.
The TMA slope can be used as a trend determination Indicator and it also captures the big and small movements depending on the Indicator’s settings.
When You Should Go Long Using the TMA Slope Indicator
First look for the TMA slope Indicator to change its color while still below the zero line.
Then place a long pending order on the recent swing high point.
Ideally, the long position is triggered alongside the TMA slope Indicator also rising above the zero line.
When Should You Exit Your Long Position
Exit your long position using a fixed risk to reward set up.
Alternatively, you can use the TMA slope Indicator.
When it changes color from Blue to Red while above the zero line, then close the long position.
When Should You Short using the TMA Slope Indicator
Enter a short position when the TMA slope is still above the zero line but the color changes to red.
Then wait for the price to close and then go short at this level.
When Should You Exit Your Short Position
Exit the short position with a fixed risk to reward set up.
Alternatively, trail your stops until you see an opposite direction signal that is forming.
But note that this second method works only when the trend is strong.
Where to set the stop loss using the trend reversal Indicator
For long or short positions, always look to the recent swing high or low points that are formed prior to your trigger for initiating the position.
You can then move the stops to break even level after the price has moved considerably in your favor.
The TMA Slope Indicator is a simple Indicator based on the combination of the TMA Indicator.
Because it works as an oscillator, this Indicator is a good depiction of the trends in the price chart.
The TMA slope Indicator can work on any time frame as well.
Increasing Your Win/Loss Loss Ratio
When you add the Momentum Reversal Detector Indicator and use it together with a proven trend trading system like the Elite Swing Trader or Simple Trend Trading System, you can only expect to achieve a better win ratio and better risk-reward ratio.
Recommended Time Frames
Technically speaking, you can use this MT4 indicator for all time frames.
However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly.
We recommend that you use higher time frames like the H4 for better consistency.
How to Install Custom Indicators on MT4 on Windows
How to Install Custom Indicators on MT4 on Mac OS
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