TMA + MT5 Center of Gravity Indicator Download | Forex Indicator Download - MetaTrader 5 Resources - MetaTrader 5 Resources

The Triangular Moving Average + Center of Gravity indicator is a trend channel tool for MetaTrader 5 . It utilizes the following indicator that combines TMA and COG to detect price trends.

The MT5 Signal Prediction Indicator issues buy or sell signals when price breaks out of the channel band and then returns to the channel range.

TMA + center of gravity indicator table

The table below provides a brief overview of the characteristics of this indicator:

Indicators 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 upstream and downstream TMA bands , calculated using standard deviation. The lower band is marked green and the upper band is marked 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 USD/CHF 4-hour chart , the Triangular Moving Average + Center of Gravity indicator shows an uptrend.

The price has broken out of the lower channel band twice, and after returning to the channel, the indicator triggers a buy signal . Traders can enter buy positions based on this signal.

sell signal indicator

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

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

TMA + COG indicator settings

Here are the relevant settings for the TMA + COG indicator:

Display Settings

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

Indicator Settings

• Half Length: Set the TMA cycle;
• Applied Price: Select the calculated price type;
• Bands Deviation: Set the deviation ratio from the TMA center line;
• Lookback: Defines the number of candles used 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 to trade based on the indicator signals.