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Extreme_TMA_line_indicator - indicator for MetaTrader 5

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votes: 15
2018.10.25 18:18

Extreme TMA Line is a well-known channel indicator included into multiple Extreme TMA strategies.

There are five inputs:

  • TMA period - TMA calculation period
  • ATR period - ATR calculation period
  • ATR multiplier - channel width ratio
  • Trend threshold - trend type switch threshold
  • Redraw - recalculation for compensating the indicator redrawing (Yes/No)

The indicator draws three lines: central (colored) and two channel ones. When detecting a bullish trend, the central line is colored green. When detecting a bearish one, the central line is colored red. The flat state is marked by gray color.

Fig. 1. Extreme TMA Line, Redraw = Yes

Fig. 2. Extreme TMA Line, Redraw = No

Translated from Russian by MetaQuotes Software Corp.
Original code:

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