TMA Slope MT4 Indicator – Free MT4 Indicator
The TMA Slope MT4 Indicator is a popular trading indicator with many trading systems integrated within it. The TMA slope indicator is useful as it plots on the sub window as a histogram. Visually, the TMA Slope MT4 Indicator is known capture price action with relative ease and seems to work better than any other technical indicator/oscillator out there. The TMA slope indicator shows the current direction of the market. This indicator can also be used to determine the divergence in prices among other things. The chart below shows the TMA slope indicator applied to the 4-hour time frame chart.
The TMA Slope MT4 Indicator is basically an oscillator which moves above and below the 0-line similar to a MACD. However, because the indicator accounts for different time frames as well, the result is a more smooth visual depiction of trend and momentum.
TMA Slope MT4 Indicator Settings
The TMA slope MT4 Indicator makes use of different time frames and brings an average value of the same. In terms of configuring the TMA Slope MT4 Indicator; there is nothing much expect to select the time frames of interest. Depending on the time frame the TMA slope is applied to, you can select the different lower time frame settings such as H1, H4, M15 or M30. The TMA Slope Indicator also shows details such as whether prices are trading flat, or ranging or if a trend is established.
Profitable Trading with the TMA Slope MT4 Indicator
The TMA Slope MT4 Indicator can be used in different ways. The first chart below shows a moving average crossover system which includes the TMA slope indicator applied as well. After initially triggering a short set up, the two moving averages make a bearish crossover, confirming the downtrend. Short positions here could result in a profitable trend following system being employed, making use of the TMA slope indicator. The trade is then exited when the TMA slope starts to rise back above the 0-level.
Trading with the TMA Slope MT4 Indicator is very simple making it easy even for beginners. Trends are strong when the TMA slope indicator rises above or below the 0.5/-0.5 levels and thus helps traders to avoid any whipsaws in the markets. By combining the TMA slope indicator with something as simple as moving average crossovers, traders can build profitable trading strategies. The TMA slope indicator allows traders to stay out of the markets when prices are flat. The chart below shows this where prices are trading flat and the TMA remains moving within the range of less than 0.5 and -0.5. As seen on the chart, the trends are established and offer a stronger level to trade from when the TMA rises above the 0.5 level.
As illustrated above, the TMA indicator helps traders to identify the one main thing about the markets which is when ‘not to trade.’ One of the biggest drawbacks of a moving average crossover strategy is that the indicators typically does not show when prices are ranging, and this is one of the reasons why traders often end up losing. With the TMA slope indicator, traders can simply wait for the right setup to be formed and trade in the direction of the trend accordingly.
While the TMA slope indicator works on any time frame, it is best recommended to be used on H1 time frame or higher.
TMA Slope MT4 Indicator – 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 4H for better consistency.
TMA Slope MT4 Indicator Download
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