The Ind Mat E M A Indicator: Crossing of Two Moving Averages and Two Triple Exponential Moving Averages
Info
The The Ind Mat E M A Indicator: Crossing of Two Moving Averages and Two Triple Exponential Moving Averages is a Indicator for MetaTrader 5 that this indicator is based on the concept of combining two different types of moving averages: the triple exponential moving average (tema) and the simple moving average (sma). In a growing market, the TEMA and SMA curves, when applied to close and open prices, respectively, will align closely.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use The Ind Mat E M A Indicator: Crossing of Two Moving Averages and Two Triple Exponential Moving Averages
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This indicator is based on the concept of combining two different types of moving averages: the Triple Exponential Moving Average (TEMA) and the Simple Moving Average (SMA).
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: supertrend indicator: atr-based trend following for metatrader 5 - another powerful indicator for MetaTrader 5 traders.
This indicator is based on the concept of combining two different types of moving averages: the Triple Exponential Moving Average (TEMA) and the Simple Moving Average (SMA).Also recommended: bar stats indicator: efficient mt5 tool for ea developers and traders - similar indicator with strong performance on MetaTrader 5.
In a growing market, the TEMA and SMA curves, when applied to close and open prices, respectively, will align closely. However, in a falling market, these curves diverge.
The indicator uses two TEMA lines to capture price movements and two SMA lines to indicate trend presence, resulting in a unique and informative visualization.
A key feature is the delta value, which helps filter out flat market noise, displaying it in gray when the parameter is non-zero.
Conclusion:
The indicator's design aims to generate signals from the crossing of curves with different price types (open and close) at the same averaging period. Interestingly, during testing with an Expert Advisor, varying the averaging periods produced unexpectedly positive outcomes.
You may also like: candle body ratio indicator: strength meter with heatmap - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 8
#property indicator_plots 1
#property indicator_type1 draw_color_histogram
#property indicator_color1 green,red,dodgerblue,gold,gray
#property indicator_width1 2
#property indicator_label1 "matema".......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.