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Abiroid Extreme TMA System Arrows Indicator
Extreme TMA System with Arrows Indicator
And Buy/Sell Boxes with Take Profit & Stop Loss
This is a Non-Repainting Arrows Indicator based on the Extreme TMA System.
It shows TMA cross signals and the best BUY/SELL signals. Along with the most predicted TakeProfit. And StopLoss based on TakeProfit ratio.
Download extras here:
Please note: This is an Arrows only Indicator. Dashboard is sold separately here:
Check out the video tutorial here:
Read detailed description:
This indicator shows BUY/SELL Signal Arrows and also shows most probable Take Profit. And Stop Loss is calculated based on ratio you set for StopLoss:TakeProfit.
There are 3 TMA Bands: Upper, Middle and Lower bands.
When price crosses Upper band, it will reverse and give a SELL Opportunity and if it crosses Lower bands, there is a BUY Opportunity.
Once reversal happens price will go at least up to the middle band.
To verify this reversal, we have to check 3 things:
1. TMA Slope (of current and Higher timeframes)
2. Support/Resistance Lines
3. RSI OverBought/Sold
If price is close to Support and it crosses the lower band also, it will likely reverse for BUY.
If price is close to Resistance and it crosses the upper band, it will likely reverse for SELL.
BUY SELL Signal Conditions:
– If useHeikenAshiPrice is true – use Heiken Ashi prices
- If Price has crossed Upper/Lower bands
- If useRSI is true and Price OverBought/OverSold
- If checkCurrentTFSlope or checkHTFSlope – do a Slope Check as described in next section
- If “Ignore If TakeProfit Too Close” is true – and price is less than “Min Distance from TakeProfit” percentage. See in section below.
If all conditions match you will get a corresponding BUY or SELL Signal and Alert. BUY is Green Background. SELL is Red background.
If TMA_SlopeThreshold is 0.3.
- If Slope < -0.3 means Bearish Trend so show only SELL Signals. Ignore all BUY Signals
- If Slope > 0.3 means Bullish Trend so show only BUY Signals. Ignore all SELL Signals
- If Slope between -0.3 and 0.3 means Market is Ranging. Show both BUY and SELL Signals
- If MinDistance is 0.3 means 30%
- If 100% distance is between Upper/Lower band and Middle band.
- If distance between Upper/Lower band and starting price is already more than 30% then ignore the signal.
- seeDetailedJournalLogs = true (Get Detailed Logs in Journals Tab or not)
- TMA_Period = 50 (Triangular Moving Average Period)
- checkHTFSlope = false (Check Slopes for next 3 Higher Timeframes or not)
- checkCurrentTFSlope = true (Check slope for Current Timeframe or not)
- ignoreMNSlope = true (Ignore Monthly chart’s slope or not)
- TMA_SlopeThreshold = 0.3 (Slope Threshold for Checking Bullish/Bearish)
- useRSI = false (If Use RSI true – only trade BUY if RSI OverSold and SELL if RSI OverBought. Else ignore signal)
- RSI_Period = 14
- RSI_OversoldLevel = 30
- RSI_OverboughtLevel = 70
- ignoreTooCloseMiddleBand = true (TakeProfit will be somewhere close to Middle Band. But if price already reached too close to middle band then ignore signal or not)
- minDistFromMiddleBand = 0.3 (0.3 means 30% distance from Middle Band. If ignoreTooCloseMiddleBand true and price reaches more than 30% distance from middle band then ignore signal)
- PredictBestSL_TP_Rectangle = true (Get SL and TP are predictions rectangle. Note these are predictions. Use with Support/Resistance lines for validation)
- SL_Ratio = 1 (Ratio 1 means SL and TP will be 1:1. 0.5 means StopLoss will be half of TakeProfit)
- MaxTakeProfit = 500 (If TakeProfit more than these Points, then reset it to this max. And reset StopLoss to this max * SL_Ratio)
- MinStopLoss = 70 (Ignore signal if StopLoss less than Min Points)
- Platform: Metatrader4
- Currency pairs: All pairs
- Trading Time: Around the clock
- Time-frame: All TimeFrames. But higher TF H1, H4+ are better and more stable
Added option AlertOnTMACross to Alert when price crosses upper/lower TMA bands.
By default it's off.
- Added Price Outside Bands Check
- Added TMA+CG as TMA Bands Option
- Removed excess logging for Past Bars to avoid confusion. Will only show current logs
- Added option for ATR Multiplier
- Added postfix checks to support different brokers: ".","..","+","i","m",".stp",".G","pro","-5"
Arrows: Added Buffers for Last Arrow Occurred
Scanner: Added feature to "Do Past Arrow Search At Start"
If true, on scanner load it will search Past Bars for Arrows. This might make refresh time a bit slower.
If false, it will only look for new arrows.
- Channels Options: "Fast TMA Line" or "TMA True"
and for TMA SLope: "TMA Slope1" and "TMA Slope2"
(Note: Fast TMA Line and TMA Slope1 are repainting
and TMA True and TMA Slope2 are non-repainting)
- Added Buffers for Upper/Lower Cross
- Added setting for ATR_Period