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Needs help with an MT4 trend indicator...TMA


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Needs help with an MT4 trend indicator...TMA

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  #1 (permalink)
USA
 
Experience: Beginner
Platform: NinjaTrader 6.5
 
Posts: 18 since Mar 2010
Thanks: 13 given, 1 received

Hi All,
I am reaching out to this online community to see if someone can help me converting an indicator to NinjaTrader platform.

I have found this little MT4 indicator which seems to be helpful in identifying the trend. It is called TMA (tunnel moving averages?) I am not sure if NinjaTrader has any similar indicator or not. I have looked at Keltner Channel indicator but it is too choppy as compared to this TMA indicator.

Explanation: As I understand this indicator consists of 3 parallel bands. Middle band is a LWMA (Linear Weighted Moving Average) which is typically set at 56 LWMA and outer bands are 2xATR(100). It would be great if some can point to a similar indicator on Ninjatrader or can code this to NinjaTrader in his spare time.

I am attaching a screenshot and MT4 code with this post.

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  #3 (permalink)
the coin hunter
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  #4 (permalink)
USA
 
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cory View Post

Thanks for a quick helpful reply. The MA envelope indicator is very close to what I was looking for. I am tinkering with settings to see if I can fie tune it. It seems to be very flexible indeed.

Raindrop.

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  #5 (permalink)
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Hi RainDrop

What settings have you found to be of higher probability to give you better win/loss ratio


sharmas

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  #6 (permalink)
USA
 
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Posts: 18 since Mar 2010
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sharmas View Post
Hi RainDrop

What settings have you found to be of higher probability to give you better win/loss ratio


sharmas

I don't think this MA envelop alone can make profitable trades possible. It is just one of the pieces of a trend following system and I hope it would help in recognizing the breakouts & pullbacks.

Having said that, I have used this indicator with EMA 30 as the center MA with 2.5ATR envelope with promising results on a 30 minute Forex chart. YMMV

Raindrop

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Last Updated on April 25, 2011


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