Double HMA MTF for MT4
This is an advanced multi-timeframe version of the popular Hull Moving Average (HMA).
- Graphical panel with HMA indicator data from all timeframes at the same time. If the HMA has switched its direction on any timeframe, a question mark or exclamation mark is displayed on the panel, accompanied by a text and audio message. The messages can be configured separately for each timeframe using the corresponding checkboxes.
- The indicator is located in a separate window, so as not to overload the main chart window. It combines HMA data from two timeframes on the same chart: the current TF and the higher TF, which is set in the parameters. The HMA of the higher timeframe determines the trend, and the HMA of the current timeframe determines the current short-term movements.
- The indicator splits signals of the higher TF on Possible and Final signals.
- The possible signal is generated when the HMA color is switched and when the bar of the higher TF is not closed yet. The possible
signal is displayed on the graphic panel with a question mark.
It is risky to open a deal on this signal, because it can be canceled if the HMA color is restored before closing the higher TF bar. However, the possible signal allows you to open a trade at the best price.
The possible signal can be switched off.
- The final signal is generated by switching the color of the HMA of the higher TF and the bar of the higher TF has already closed. This
signal is never redrawn.
The final signal is displayed on the graphic panel with an exclamation mark.
- The possible signal is generated when the HMA color is switched and when the bar of the higher TF is not closed yet. The possible signal is displayed on the graphic panel with a question mark.
- The signal arrows can be displayed both in the subwindow and in the main window. Information about the signal is displayed in the message box and duplicated by sound. It also supports sending email and push messages to mobile devices.
For easy visualization of the indicator’s job, use the free Double HMA MTF Light indicator, which displays HMA data from the current TF and the higher TF in the main window of the chart.
How to use
Watch a video describing the operation of the indicator and recording of trades in real time.
- Offset of Higher TF relative to Current TF (can be >0 or =0) - shift of the higher timeframe relative to the current one for the HMA indicator. The value can be greater or equal to 0. The 1 value means higher by 1, 2 - higher by 2 etc. For example, if the current period is M5 and you set this parameter to 1, then the indicator will display HMA data from TF M15, and if you set it to 2, in that case the indicator will display HMA data on TF M30.
- HigherTF HMA period (signals of the trend change) – the HMA period from the higher timeframe (change of HMA color from the higher timeframe is change of trend. This is the main signal to open a trade)
- CurrentTF HMA period (additional signals to trend continuation) – the HMA period from the current timeframe (change of HMA color from the current TF is change the direction of the current price movement. This is additional signals). If this parameter =0 then the signal from the CurrentTF HMA will be disabled.
- Enable the possible signal from HigherTF HMA
- Enable the possible signal from CurrentTF HMA
- Enable the possible signal from HMA on other TF – possible signals on the graphic panel from HMA of other TF
- Arrows of signals in main window – enable signal arrows in the main window/li>
- Color of UP/DOWN trend signal - signal arrow buy/sell colors
- Show legend – show the description of the indicator in the subwindow
- Color of legend – color of the description
- Show the current bar of the Higher TF in a different color - highlight an unclosed bar of a Higher TimeFrame with a different color
----- Messages/Sounds ----- (Notifications and sound settings):
- ON/OFF - Sound enable - enable/disable sound alerts
- ON/OFF - Alert - enable/disable messages in the terminal when signals occur
- ON/OFF - Mail - enable/disable sending emails
- ON/OFF - Push - enable/disable sending push notifications to mobile devices.
- Next are the names of the audio files for the possible and final signals
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Configured by the "Show the current bar of the Higher TF in a different color" parameter.