Introduction to the HMA Mega Trend Arrows Indicator
The HMA Mega Trend Arrows Indicator is based on Hull Moving Average (HMA) indicator but displays simple buy/sell arrows. These signals should be confirmed with an additional filter or you can add the indicator to a forex strategy. The arrows can work as entry points, but only in the direction of the overall trend.
The HMA Mega Trend Arrows Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
Example trade with the HMA Mega Trend Arrows Indicator
Below is the screenshot of an example trade with the HMA Mega Trend Arrows Indicator.
In the example above, we paired the HMA Mega Trend Arrows Indicator with 100-period Exponential Moving Average that defines a general market trend. The price is above the EMA so the trend is considered bullish, and one should look for long trades only. We took the trade at buy arrow and then the price indeed raised significantly. The profit was taken at the arrival of the opposite arrow.
How to set up the HMA Mega Trend Arrows indicator in MetaTrader (MT4)?
Download the HMA Mega Trend Arrows.rar archive at the bottom of this post, unpack it, then copy and paste the HMA Mega Trend Arrows.ex4 or HMA Mega Trend Arrows.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The HMA Mega Trend Arrows indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 HMA Mega Trend Arrows Indicator
To download the HMA Mega Trend Arrows Indicator for Metatrader 4 (MT4) for free just click the button below:
HMA Mega Trend Arrows Indicator Free Download