Forex HMA Trend Indicator MT4 is a remarkable invention in the expansion of modern trend indicator development. The reason behind the popularity of this trend-based indicator is it uses a double filter to detect a trend as correctly as possible.
Forex HMA Trend Indicator uses a dual pattern of Hull Moving Average (HMA). These patterns are classified as Slow and Fast HMA. When both of these tools generate the same signal, signaling arrows appear on the chart indicating the current trend.
It is very easy to read the signals generated from Forex HMA Trend Indicator. Besides, you can apply it on any currency pair and in any timeframe chart.
Forex HMA Trend Indicator Overview
Once you install this indicator in your mt4 trading system, your chart will appear like the following image:
|Time Frame||Currency Pairs||Indicator Factors||Ratings|
|M15 to Any||Any||3||9.8/10|
Do Not Miss: Tipu MACD Indicator MT4
Forex HMA Trend Indicator Anatomy
- Fast HMA: You’ll find it as the first dotted horizontal row at the oscillator window. It reads short period of price action data to detect the trend. Thus, it generates faster and frequent signals than Slow HMA.
- Slow HMA: The second dotted horizontal row of the oscillator window is the Slow HMA. It reads larger period of market data and produces less signals than Fast HMA.
- Signal Arrow: It plots arrows as trend signals when both Fast and Slow HMA signals the same direction of the market.
Forex HMA Trend Indicator: Buy Parameters
- Both Slow and Fast HMA turns white
- Signal Arrow pointing upwards
- Stop loss should be set below the respective bar’s low or below the Signal Arrow
- Take Profit when Signal Arrow pointing downwards and both HMA turn red
Forex HMA Trend Indicator: Sell Parameters
- Both Slow and Fast HMA turns red
- Signal Arrow pointing downwards
- Stop loss should be set above the respective bar’s high or above the Signal Arrow
- Take Profit when Signal Arrow pointing upwards and both HMA turn white