Tom Demark Moving Average Indicator
Info
The Tom Demark Moving Average Indicator is a Indicator for MetaTrader 5 that the tom demark moving average indicator is a moving average based on demark's principles for trend identification. It features two configurable parameters:Trend Period- This parameter defines the period used to identify the trend.
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 Tom Demark Moving Average Indicator
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
The Tom Demark Moving Average indicator is a moving average based on Demark's principles for trend identification.
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: Custom Adaptive Moving Average Indicator - another powerful indicator for MetaTrader 5 traders.
The Tom Demark Moving Average indicator is a moving average based on Demark's principles for trend identification.Also recommended: Quantora Moving Average Dashboard MT5 - Professional EMA SMA Trend Analysis - similar indicator with strong performance on MetaTrader 5.
It features two configurable parameters:
Trend Period
- This parameter defines the period used to identify the trend.
SMA Period
- This parameter sets the calculation period for the Simple Moving Average.
Operation Algorithm
1. Probable Trend Identification:
The indicator first identifies the probable trend. If the current low (for an uptrend) or high (for a downtrend) is higher (for low) or lower (for high) than the previous low or high within the specified Trend Period (default is 12 bars), it suggests that the pressure from bears or bulls is decreasing, indicating a probable upward or downward trend, respectively.
2. Trend Line Drawing:
As long as the condition described above is met, the trend line for the TD MA is drawn for the next four bars. If, within these four bars, the price sets a new minimum/maximum within the Trend Period, the TD MA will extend its trend line for the subsequent four bars.
3. Horizontal Line Drawing:
If the conditions for either the bullish or bearish trend are not met, a horizontal line is drawn. This line will adopt the color of the last identified trend line.
Calculation Formulas:
TD MA = SMA(SMA Period, Price Low) - for a bullish trend.
TD MA = SMA(SMA Period, Price High) - for a bearish trend.
You may also like: Relative Moving Average (RMA) Indicator for MT5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ 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.