HMA Mega Trend Indicator

HMA Mega Trend Indicator

The HMA Mega-Trend indicator for MT4 is a technical trading tool that shows the trend direction and then paints buy/sell entry signals

The HMA (Hull Moving Average) Mega Trend indicator for MetaTrader is a moving average-like trend analyzer that paints a buy/sell signal. Unlike the regular moving average, the HMA was refined with smoothing features, which enables it to define the best trend direction by filtering out random movement of the price.

Furthermore, this technical indicator was also built with signal arrows for buy/sell trade entries. Besides, it also comes with a dynamic line that turns green/red to depict the trend direction. The green/red line depicts a bullish/bearish trend, respectively, while the white/magenta arrows depict buy/sell signals, respectively.

How to Trade With the HMA MegaTrend Indicator

The above image depicts the action of the indicator on a EURUSD currency pair in the H4 timeframe. It illustrates how to use the indicator in synergy with price action.

The image shows that the EURUSD pair is currently trending to the upside (uptrend). Now, to trade along the primary trend direction (uptrend), the bearish signal arrows were ignored, while the bullish signal would be taken into consideration.

Furthermore, the indicator painted a buy entry (white arrow) signal, which was also in sync with the price action (bullish engulfing candlestick pattern), thereby making it a high-probability setup/entry.

The above principle is also suitable for identifying a sell setup/entry. Moreover, the aforementioned method is best suited for day/intraday and swing traders. Conversely, scalpers may take both the buy and sell signal regardless of the primary trend direction, but only when it is in sync with price action (e.g. support/resistance zone, candlestick patterns, etc.) or other technical indicators.

Conclusion
The HMA Mega-Trend indicator for MT4 is a trend analyzer that paints buy/sell arrows at optimal zones. What’s more, it almost does not lag behind the price. Finally, it is free to download.