Triangle MA Centered is probably one of the simplest trend-following forex trading indicators you may have ever experienced. It applies a combination of Moving Averages with Channel Histogram in order to define the market trend and the trade opportunities aligned within the predetermined trend direction.
Triangle MA Centered is a versatile trading indicator which suits all sorts of timeframe charts within the MT4 trading platform. Furthermore, this indicator can be applied to trade all kinds of forex currency pairs around the financial markets.
Triangle MA Centered Overview
Once you’re done with the installation of the indicator at the MT4 terminal, your trading chart will appear like the following image:
Triangle MA Centered Anatomy
This indicator demonstrates both the trend and the trade signals in a very simple manner so that even a newbie trader will be able to read it right. It turns green to signal the beginning of the bullish trend which is also considered as a buy signal. For going short with the confirmation of the bearish trend, you’ll need to wait until the indicator bars turn red. Triangle MA Centered value turns positive means the validity of the recent bullish move and turns negative to signal the intactness of the current bearish thrust.
Also Read: Best Contrarian Forex Strategy
Triangle MA: Trading Rules
- Price bar closes as a solid bullish candle
- The indicator bars turn green
- Buy triggers when both of the above conditions are met at the same time
- Set stop loss below the current swing low of the market
- Exit long/take profit whenever the indicator bars turn into red
- Price bar closes as a solid bearish candle
- The indicator bars turn red
- Sell triggers when both of the above conditions are met at the same time
- Set stop loss above the current swing high of the market
- Exit short/take profit whenever the indicator bars turn into green