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Based on the use of a slightly modified Hull Moving Average (HMA).
I added an indicator that paints the bars in different colors according to the HMA. It is auxiliary in nature and is used only for illustrative purposes.
Buy when the HMA line is tilted upwards (green), and the SMI crosses the signal line from below, at the same time the indicator must not be in the overbought state (i.e. higher than 70).
Buy when the HMA line is tilted downwards (red), and the SMI crosses the signal line from above, at the same time the indicator must not be in the oversold state (i.e. lower than -70).
The initial stop loss is 150 points.
Half of the position is closed once the SMI reaches +80. For the second half, wait for the exit signal after moving the stop loss.
Fully close the position when the HMA reverses and SMI approaches the extremums (+70/-70)
The system works best with yen pairs.
MT4 Indicators – Download Instructions
HMA is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
HMA provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install HMA.mq4?
- Download HMA.mq4
- Copy HMA.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on HMA.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator HMA.mq4 is available on your Chart
How to remove HMA.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: