HMA NRP Alerts Indicator is a Moving Average-based trend-following forex trading indicator. It uses a very basic concept of use with simple chart demonstrations so that everybody can read and understand its trade signals.
Newbie traders who are struggling to trade within the market trend can be benefited from its simple trend-defining technique.
The Alerts Indicator is quite flexible as a trend indicator, allows you to trade any forex currency pair you like in the financial markets. Furthermore, it can be applied to trade on all kinds of timeframe charts within the MT4 platform.
HMA NRP Alerts Indicator Overview
Download the Indicator and install it to your MT4 terminal. Once you’re done, find your charts like the following image:
Also Read: XM Broker Review
HMA NRP Alerts Indicator Explanation
HMA NRP Alerts Indicator works with the same manner of Moving Averages. It uses a 15-day period HMA Average as default for signaling the trends. However, depending on the nature and frequency of the trade signals, you can still change the value of the day periods.
Price moves above its level signals for the bullish trend of the market. On the other hand, price drops below its level is considered as the bearish trend of the market. Once a trend is confirmed by the indicator, you can go for a market entry within the direction of the possible market trend.
HMA NRP: Buy Parameters
- Price moves above the level of HMA NRP
- A bullish price candle closes above the indicator level
- Buy triggers when the high of the bullish bar is broken by the following price candles
- Set stop loss below the HMA NRP level
- Exit long/take profit whenever the price starts to close below the indicator level
HMA NRP: Sell Parameters
- Price moves below the level of HMA NRP
- A bearish price candle closes below the indicator level
- Sell triggers when the low of the bearish bar is broken by the following price candles
- Set stop loss above the HMA NRP level
- Exit short/take profit whenever the price starts to close above the indicator level
