There are basically two TTM trend Metatrader Forex indicator, but this variant carries out its calculation in a different manner.
TTM is short for Trade The Markets, hence the TTM trend Metatrader 5 Forex indicator provides an easy way to view the candlesticks.
It deploys the Heikin-Ashi method.
In literal terms, Heikin means “average” or “balance,” while Ashi stands for “foot” or “bar.”
The TTM trend is a visual construct that takes away the abnormalities from a usual candlestick chart and delivers an enhanced picture of trend and reversals.
The TTM Trend Metatrader 5 Forex indicator can be personalized to suit your trading style.
If look back bars closes above the 50% mark of the mean for the past look back candlesticks, its color reverts to bearish.
If the look back bars closes below the 50% mark of the mean for the last look back price bars, the TTM Trend alters is color to bullish.
The TTM Trend is essentially an easy way to view the activity chart.
The AUD/USD M15 chart below displays the TTM trend Metatrader 5 forex indicator in action
Basic Trading Signals
Buy Signal: Go long when the TTM trend Metatrader 5 forex indicator paints the candlestick deep sky blue.
Sell Signal: Go short when the TTM trend Metatrader 5 forex indicator paints the candlestick sandy brown.
Exit buy trade: Close all buy orders if while a bullish is ongoing, a sandy brown TTM trend MT5 indicator pops up.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, a deep sky blue TTM trend MT5 forex indicator pops up.
Tip: The TTM trend Metatrader 5 forex indicator is an easy way to look at the charts, as such scalpers can quickly deploy this tool as a means of defining market trends.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (Look back period), 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 TTM trend.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)