Introduction to the HMA Mega Trend Indicator
The HMA Mega Trend Indicator is a trend-following forex technical analysis tool based on the well-known Hull Moving Average. It calculates the recent and past market data into trend momentum signals. A proven formula, simple look, easy-to-ready signals, and high accuracy rate have made this forex indicator very valued by traders around the world. It’s a great treat both to newbie trend-based traders and more advanced traders.
The HMA Mega Trend Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below 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.
How does it work? How to apply in trading?
Trading Rules Explanation
The core of the HMA Mega Trend Indicator is the signal line that is colored to green or red depending on the market trends. As you probably guessed, the green signal line indicates an ongoing bullish trend and the red signal line indicates an ongoing bearish trend. It works in conjunction with buy/sell arrows that stand for market entries and exits. Let’s take a look at the detailed instructions below.
Follow these steps for a long trade:
- HMA Mega Trend Indicator plots a gray upward arrow
- 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 HMA Mega Trend Indicator provides pink downward arrow
Follow these steps for a short trade:
- HMA Mega Trend Indicator plots a pink downward arrow
- 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 HMA Mega Trend Indicator provides gray upward arrow
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.
How to set up the HMA Mega Trend indicator in MT4?
Download the HMA Mega Trend.rar archive at the bottom of this post, unpack it, then copy and paste the HMA Mega Trend.ex4 or HMA Mega Trend.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 indicator is well worth adding to your trading collection. A good forex indicator like this one 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.
HMA Mega Trend Indicator Free Download
To download the HMA Mega Trend Indicator for Metatrader 4 (MT4) for free just click the button below: