The world of Forex trading is replete with numerous indicators, each serving a distinct purpose and offering unique insights to the trader. One such tool is the TmaTrue 3.0 with Distances MT4 Indicator, a channel indicator that provides a visualization of the channel width in points and the distance from the price to the channel boundaries. In this comprehensive article, we delve into the details of the TmaTrue 3.0 with Distances MT4 Indicator, including its mechanics, application, and suitability.
Understanding the TmaTrue 3.0 with Distances MT4 Indicator
The TmaTrue 3.0 with Distances MT4 Indicator is a channel indicator based on the Triangular Moving Average (TMA). This indicator presents a channel formed by this moving average, providing additional information about the channel’s width in points and the distance from the current price to the upper, lower, and middle moving averages.
However, despite its use of moving averages, the TmaTrue 3.0 with Distances Indicator is not strictly a trend indicator. Instead, it is designed for channel strategies that involve trading when the price rebounds from the channel’s borders.
The Advantages and Applications of TmaTrue 3.0 with Distances MT4 Indicator
The primary advantage of the TmaTrue 3.0 with Distances MT4 Indicator lies in its ability to provide a clear visual representation of the price movement within a specified channel. This, combined with information about the channel’s width and the distance of the price from the channel boundaries, allows traders to make informed trading decisions based on potential price rebound points.
The indicator is particularly suitable for channel trading strategies, which rely on the assumption that prices often rebound from the channel’s boundaries. By identifying these boundaries and the distance of the price from them, the TmaTrue 3.0 with Distances Indicator provides essential data for executing these strategies effectively.
Suitability and Best Use Cases of TmaTrue 3.0 with Distances MT4 Indicator
While the TmaTrue 3.0 with Distances MT4 Indicator can be a valuable tool in a trader’s arsenal, it’s essential to understand its limitations and best use cases. The indicator is not recommended for use on highly volatile currency pairs, as rapid price fluctuations may distort the channel and lead to inaccurate signals.
Instead, the TmaTrue 3.0 with Distances Indicator shows its best results when trading on commodities, with up to 90% of trades proving profitable. This makes it a particularly suitable tool for traders specializing in commodities trading, looking to implement channel trading strategies.
The TmaTrue 3.0 with Distances MT4 Indicator is a powerful tool for traders looking to capitalize on channel trading strategies. By providing visual representation of a channel based on the Triangular Moving Average and insights into the channel’s width and price distances, it allows traders to make informed decisions about potential price rebound points.
However, as with any trading tool, its effectiveness depends largely on its appropriate use. Understanding the indicator’s limitations and best use cases is key to harnessing its full potential and making successful trades. In this case, commodities trading and avoidance of highly volatile currency pairs can lead to the best results with the TmaTrue 3.0 with Distances Indicator.
Features of TmaTrue 3.0 with Distances MT4 indicator
- Platform: Metatrader 4
- Ability to change settings: Yes
- Timeframe: any from 1 Minute to Daily
- Currency pairs: any
In TmaTrue-3.0-with-Distances.zip file you will find:
Download TmaTrue 3.0 with Distances MT4 indicator for free: