XPMA TT Indicator can be described best as a trend-following forex trading indicator. This indicator enables traders to define the market trend correctly and spots the best possible areas to enter the markets. So far, this technical tool looks quite simple and easy to master, even by newbie traders. Besides, this indicator can be added to any trend-based trading strategy in order to enhance the trade signal qualities.
This Indicator can be applied to trade all kinds of forex currency pairs around the market. Moreover, this indicator fits well with all sorts of timeframe charts within the forex MT4 trading platform.
XPMA TT Indicator Overview
Once you’re done with the installation of XPMA TT Indicator at the MT4 terminal, your chart will appear like the image below:
XPMA TT Indicator Explanation
XPMA TT Indicator applies different formats of 12-period Linear Weighted Moving Averages behind its trend slope around the price bars at the main chart window. For a bullish trend confirmation, the price must be closed above the indicator level and the indicator itself should be turned green. You may decide to go for long just at the moment it changes into green or you can also wait for general price action signals for better confirmation. For sell entry, the indicator should be turned red and the price must be closed below the indicator level. You may use this trend-slope as the dynamic stop levels of your market entries.
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XPMA TT: Trading Rules
- Price bar closes above the indicator slope
- The indicator turns into green
- Buy triggers when the above conditions are met
- Set stop loss below the current indicator level
- Exit long/take profit whenever the price closes below the indicator area
- Price bar closes below the indicator slope
- The indicator turns into red
- Sell triggers when the above conditions are met
- Set stop loss above the current indicator level
- Exit short/take profit whenever the price closes above the indicator area