TMA Indicator v2.2

22 Jul 2019

This indicator is designed to show support and resistance at local extremes. Configurable SMA crossover events can be used to impart a bullish or bearish bias. This helps to reduce noise on the chart and increase profit factor. In other words, the indicator will only look for bullish breakouts if the fast moving average is above the slow moving average and vice-versa.

• SMA Crossover events can be used to filter bullish or bearish resistance levels.
  
• SMA Crossover events can be used to filter bullish or bearish breakout alerts.
  
• Supports alerts for entries and exits based on breakouts of local extrema.
  
• Alerts can be generated at every breakout or with SMA crossover filtering active.
  
• Backtests would suggest that filtering with SMA crossovers often yields slightly lower profit but with a considerable improvement to profit factor.
  

Green/Red indicates long/short entry
Yellow/Orange indicates long/short exit

See here for an example backtest and visualization of active SMA signal filtering:

For paper trading only. Do not use on real markets. Never make investment decisions based on this indicator alone.