Tom Demark Moving Average
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Tom Demark Moving Average
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.
Description & Settings
Indicator Tom_Demark_Moving_Average is the moving average based on Demark's statements regarding trend identification.
It has two configurable parameters:
Trend period
- a period to identify the trend;
SMA period
- calculation period. Operation algorithm
Probable trend is identified first. If the current Low (bullish trend) or High (bearish trend) is higher (for Low) or lower (for High) of the previous Low or High within Trend period (12 bars by default), it means that the pressure by bears/bulls decreases and the up/down trend is probable;
As long as condition 1 is met, the line of the up/down trend line of TD MA is drawn within four bars. If within four bars the price fixes the next minimum/maximum within Trend period, then TD MA will continue the next four bars;
If the conditions for bullish or bearish trend are not met, a horizontal line is drawn in the color of the last trend line.
TD MA = SMA(SMA period, PRICE_LOW) - for bullish trend;
TD MA = SMA(SMA period, PRICE_HIGH) - for bearish trend.
