FL TMA Bands Indicator
Platform: MT4 Type: Channel Last update: September 30, 2024The FL TMA Bands Indicator is an effective forex price channel indicator. When it comes to trading with that FL TMA Bands indicator, there is not much philosophy. As a general rule, sell trades occur at the touch of channel the upper band, and conversely, buy trades take place when the price reach the lower band of the channel.
How to apply FL TMA Bands in trading?
The approach with the FL TMA Bands indicator is trading from the first band to the second band. Price levels that are difned by these bands are often respected as a dynamic support/resistance levels. Therefore, these levels often turnout as a solid swing areas of the market.
Buy Signal
Follow these steps for a long trade:
- Slope of the channel is upwards
- Price hits the lower FL TMA Band
- A bullish price action takes place
- Price swings higher from recent low swing
- Buy trade is triggered after the above conditions are met
- Set stop loss a few pips below the last low point of the market
- Take profit or exit trade whenever the price reaches upper FL TMA Band
Sell Signal
Follow these steps for a short trade:
- Slope of the channel is downwards
- Price hits the upper FL TMA Band
- A bearish price action takes place
- Price swings lower from recent high swing
- Sell trade is triggered after the above conditions are met
- Set stop loss a few pips above the last high point of the market
- Take profit or exit trade whenever the price reaches lower FL TMA Band
