HMA Mega Trend Indicator
Platform: MT4 Type: Trend Last update: September 29, 2024The HMA Mega Trend Indicator for MT4 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.
Analysis and usage suggestions for hma mega trend
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.
Buy Signal
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
Sell Signal
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
