The AMKA Metatrader 5 forex indicator was created by Perry Kaufman as an adaptive moving average with indicative points placement based on the standard mean-square deviation.
It is a trend following forex indicator.
The indicative or signal points are interpreted as follows:
When the AMKA Metatrader 5 forex indicator is aligned horizontally and has no signal points, the market is said to be in a flat state.
An appropriate signal point pops up when there is a directional trend that surpasses a mean-square deviation and such a point represents an alert for market entry or exit.
The formula that explains the conditions for a signal point positioning is as follows:
AMA-AMA0 > StDev (AMA-AMA0,periodAMA)*dK
AMA-AMA0 – АМА last expansion;
StDev (AMA – AMA0, periodAMA) – indicator extensions’ standard deviation for a period;
dK – external parameter.
The AUD/USD H1 chart below displays the AMKA Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the lime signal dots of the AMKA Metatrader 5 forex indicator pops up on its ascending blue violet line.
Sell Signal: Go short when the red signal dots of the AMKA Metatrader 5 forex indicator pops up on its descending blue violet line.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the red signal dot of the forex indicator pops up on its blue violet line.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the lime signal dot of the forex indicator pops up on its blue violet line.
Tips: Intraday traders and scalpers can aptly deploy the AMKA MT5 forex indicator in building profitable trading strategies and systems.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (Period of AMA, Period of fast MA, Period of slow MA, The power the smoothing constant is raised to, Horizontal shift of the indicator in bars, Coefficient for the filter), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the amka.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)