The TMA Slope NRP Alerts Indicator generates short-term trend reversal signals for forex day traders in MT4 platforms.
Technically, TMA Slope NRP is a non-repaint indicator and works quite similarly to MACD histogram oscillators. It only takes to follow the changes in the color of the TMA slopes and the value of its histogram bars for anticipating upcoming trend signals.
Compared to other basic MT4 trend indicators, TMA Slope NRP Alerts are easier to understand and follow.
If you can spot the changes in the TMA slope’s color and can read whether its histogram value is positive or negative, you are good to go with the indicator in live markets.
The TMA slope applies a 25-period fast-TMA and a 50-period slow-TMA for accumulating the price data. It generates the bullish/bearish trend signals depending on the difference between the TMA values.
The TMA-bar’s show positive value while the TMA-slope turns blue signals the beginning of a bullish price rally. During an uptrend market, the slope turns red when the current bullish momentum starts getting weaker.
While day trading, we’ll consider an opposite momentum signal from TMA-slope as an early trade-exit signal. Otherwise, you may wait for an adverse crossover for better confirmations. If you don’t use specific target levels and love letting your trade run, then exiting the trades depending on the TMA-slope signal can bring you a better profit margin.
Check Out: How to Install Indicators in MetaTrader 4
TMA Slope NRP Alerts Indicator: Buy Conditions
- The TMA-bars spike above zero-level
- The TMA-slope turns blue
- Exit buy orders when the slope turns red, and the indicator value starts declining
TMA Slope NRP Alerts Indicator: Sell Conditions
- The TMA-bars drop below the zero-level
- The TMA-slope becomes red
- Exit short when the slope turns blue and the bars keep closing higher simultaneously