The Triangular Moving Average is a weighted moving average type that is famed for its very smooth results.
The indicator is deigned to add more weight to the central values of the averaged data.
Just as the name suggests, it is a moving average type, as such, it is portrayed as a line that traces along the path of price on the activity chart.
Interestingly, the line changes its color between medium sea green and deep pink, depending on the prevalent market trend.
Different market commentators offer several implementations and definitions for the Triangular Moving Average, but one thing that stands out amongst them all is the fact that the indicator solves the problem with execution speed while producing accurate results.
The EUR/GBP H1 chart below displays the Triangular Moving Average Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the ascending line of the Triangular Moving Average Metatrader 5 forex indicator turns medium sea green.
Sell Signal: Go short when the descending line of the Triangular Moving Average Metatrader 5 forex indicator turns deep pink.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the line of the Triangular Moving Average turns deep pink.
Exit sell trade: Close all sell orders if while a bearish trend is running, the line of the Triangular Moving Average indicator turns medium sea green.
Tips: The Triangular Moving Average for MT5 does not repaint, meaning traders (scalpers, day traders and swing traders) should always lookout for its accurate signals, when such signals do finally come out.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (Period, Price), 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 Triangular moving average.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)