Tim Morris created the Tim Morris moving average in 2004 and it’s commonly referred to as the “TMMA”.
The indicator is deployed by traders for scalping the market as well as for executing short-term trades.
The Tim Morris MA Metatrader 5 forex custom indicator seems to offer good trading alerts for scalping and day trading when used on a 15-minute chart, but we recommend further tweaking and experimenting with the input parameters.
The indicator pops up a line similar to the moving average, but the line alternates between deep pink and lime green.
The GBP/USD H1 chart below displays the Tim Morris MA Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the line of the Tim Morris MA Metatrader 5 forex indicator turns lime green, with price trading slightly above it.
Sell Signal: Go short when the line of the Tim Morris MA Metatrader 5 forex indicator turns deep pink, with price trading slightly below it.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the Tim Morris MA MT5 forex indicator line turns deep pink.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Tim Morris MA MT5 forex indicator line turns lime green.
Tips: The Tim Morris MA MT5 forex indicator is well suited for scalping, but it can also be deployed for intraday trading strategies with the right adjustments.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (Inverse of driving coefficient (length), Smoothing percent, Noise (in pips), Price), 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 Tim Morris MA.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)