If you want to save some time and nerves, do not make an EA based on any recalculating indicator. You will find out that making an EA based on those (so it must be used in "signaling mode") will just lead you to a "mission impossible" and an EA that will not be profitable. As I told many times, recalculating indicators can be used for estimation (human discretional estimation) but in "signaling mode" they are very dangerous
I apologize, English is not my best performance.
Anyway, I'm gonna build my EA using TMA. The only bad thing is that the testing will be performed on a demo (or some cent) account.
Thanks for all your explanations.
I have modified Keltner channel to do Tma Channel End-Point.
Can anyone add multi time framing to this indicator?
As you already done with TMA (MT5 version)
It would be great to see some color in MT4 version TMA & TMAcentered too !!!
Here they are
But, please, once again a reminder : do not use color changes in the centered version as a signal, since they are going to change in some cases (due to recalculating nature of centered triangular moving average). Regular TMA does not have that issue and colors will not change in it once the bar is closed
Thank you Mladen
Help with coding asap
Hello, could someone place four more lines in between this TMA TRUE indicator. Just like in this picture.
I am talking about the first ad second target lines. Also, if it isn't too hard, could you please give me the option to change the colors of each line, and the width and style of the lines.
I would really appreciate it if someone could help me with this. It is my first time i ask for something like this.
Sorry, here is the indicator!!
Moved your post here since, due to the name given to that indicator, it belongs here
First of all : use this one
Set the BandsMode to 3 (linear weighted moving average - since "TMATrue" is nothing else but a simple LWMA, TMA (triangular moving average is something completely different (maybe it would be good to read this thread for explanation on awhat ceneterd TMA and TMA are and how centered TMA relates to LWMA) and set the ATRShift to 10 and you are going to get the same results as the one you posted + 2 additional pair of bands (adjust the levels to your likings - if the level is > 0, it will be shown on chart otherwise it will not, so you can control how many bands you want on chart)
Even though these TMA INdy's going around the web repaint, I do like them for just as you say, a "reference", mostly to see overbought oversold and where not to enter, and where to hopefully see a good reversal.
Anyway I just wanted to thank you Mladen for this thread, very helpful info, and I did not know TMA true was LWMA (but a true TMA, is something different as you explained clearly)
I think that if we call things by their real names it helps at least a bit.
If we invent multiple names for the same thing it just adds to confusion and makes errors much more likely to happen. And errors in trading can be very expensive ...
So, if this thread clarified some of those things, then it has done what the intention of it was : a bit less confusion in the whole TA thing