TMA Centered Bands Indicator

Platform: MT5 Type: Channel

Users rating:

Last update: December 30, 2024

The TMA Centered Bands Indicator for MT5 creates a dynamic channel formation with one central line and two dotted bands. This guage uses color-code for clarity: the top is pink, the bottom is blue, and the middle one shifts between pink and light blue to reflect trend changes.

When it comes to the formula used, it’s built on triangular moving averages – they give the bands their characteristic smooth and balanced shape. As the trend changes, the price oscillates between them and during touches it offers trading opportunities marked with buy and sell arrows. Then an reversal is likely to happen.

Example chart:

tma centered bands indicator example chart