HMA Mega Trend Indicator is a trend following technical tool that converts the recent price action data into potential upcoming trend signals. Great track record, simple look, easy signal reading, and the higher winning rate has made this indicator quite extraordinary to its users. Moreover, this indicator can be an amazing treat to the newbie trend based traders.
This indicator is quite adjustable to all sort of timeframe charts, therefore, fits with traders of any lengths. Besides, you’ll also be able to use it to trade any Forex currency pairs at the MT4 trading terminal.
HMA Mega Trend Indicator Overview
Once you’re done with the installation of HMA Mega Trend Indicator at your Forex MT4 terminal, your trading chart will appear as the following image:
This indicator is uses a separate indicator window to plot the signal. Simply, a bullish trend is signaled by a single upward white arrow. But in such case, before you buy, you must look for a solid bullish candle as well for a better confirmation of a long entry. Reversely, a bluish downward arrow signals the bearish trend and this is the time when you should look for a well furnished good-looking bearish bar as a sell signal.
HMA Mega Trend Indicator: Buy Parameters
- HMA Mega Trend Indicator plots a white upward arrow
- Price bar closes as a solid bullish candle
- Enter buy at the break of the bullish bar’s high
- Stop loss below the respective signaling bar’s low
- Exit long/take profit once a downward arrow is plotted
HMA Mega Trend Indicator: Sell Parameters
- HMA Mega Trend Indicator plots a blue downward arrow
- Price bar closes as a solid bearish candle
- Enter sell at the break of the bearish bar’s low
- Stop loss above the respective signaling bar’s high
- Exit short/take profit once an upward arrow is plotted
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