TMA + Center of Gravity indicator for MT5 Download – [TradingFinder]

The Triangular Moving Average + Center of Gravity indicator is a trend channel tool in MetaTrader 5. It utilizes a combination of the TMA and COG indicators to detect price trends.

The MT5 signal forecast indicator issues buy or sell signals when the price breaks the channel bands and then returns to the channel range.

TMA + Center Of Gravity Indicator Table

The table below briefly outlines the characteristics of the indicator:.

Indicator at a Glance

The Triangular Moving Average + Center of Gravity indicator displays three lines on the chart. The middle line represents the TMA line, while the other two lines serve as the upper and lower TMA bands, calculated using the standard deviation. The lower band is marked in green, and the upper band is marked in red. When either of the bands is broken and the price returns to the channel, the indicator triggers a buy or sell signal.

Buy Signal Indicator

In the 4-hour chart of USD/CHF, the Triangular Moving Average + Center of Gravity indicator displays an upward trend.

The price has broken through the lower channel band twice, and upon returning to the channel, the indicator triggers a buy signal. Traders can enter a buy position based on this signal.

Sell Signal Indicator

In the 4-hour chart of AUD/CAD, the Triangular Moving Average + Center of Gravity indicator shows a downward trend.

The price breaks the upper band and then returns to the channel, triggering a sell signal. Traders can use this signal to enter a sell position.

TMA + COG Indicator Settings

Below are the settings for the TMA + COG indicator:

Display Settings

• Chart Theme: Select the custom theme for the indicator;

Indicator Settings

• Half Length: Set the TMA period;
• Applied Price: Select the price type for calculation;
• Bands Deviation: Set the deviation ratio from the middle TMA line;
• Lookback: Define the number of candles to use for past calculations.

Conclusion

The Triangular Moving Average + Center of Gravity indicator is an excellent tool for traders who want to identify market trends.

Traders, using the MT5 bands and channels indicator, can easily identify uptrends and downtrends and enter buy or sell trades based on the indicator signals.