Website will be opening very shortly :) Sorting out the last details and we're so excited to finally roll-out our different Algorithm Builders for you guys
This present script is an evolution of the TMA bands. I would never have expected that script to become so popular to be honest
This is not only a study or idea but a really proven method and I'm glad that many of you are using it already. But please, whenever you see a new script out there, even if it looks cool and promising, please test it on a demo account for a week or on a LIVE account but with tiny amounts every time.
Many times, what you see on the chart is not what will happen in reality. I know that most of you will agree and I know exactly why we see this behavior... I'll give more details in a later post
I have plenty of methods like that one and I'll detail them on my website (and a bit on TradingView) starting next month
TMA bands on steroids
Someone asked me privately to make a generic version of the TMA bands and make it compatible with other standards Moving Average types. That's it for the specifications really as I didn't do much than re-using some piece of my own code
Suggested (but not mandatory) methodology
1) The Take Profit 1 is the middle line, Take Profit 2 is the opposite band.
2) Once the TP1 is hit, set your Stop Loss to breakeven
3) Once the TP2 is hit, if you still want to stay in the trade, set your Stop Loss to the TP1
It will be a powerful tool in your arsenal for some scalp/intraday trades
Wishing you all of you a great and profitable day
It's strictly forbidden to republish this script without my explicit approval. All my posts are copyrighted from now on
Obviously you can use but not republish and get the credit or even worse... some money from your own clients
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you're correct - that's the coral trend indicator - I found it on a broker called FXCM - I think it should exist in MT4 also
But to be honest, a simple moving average 50 is often similar to a CTI 50 (here 50 is a random number) - saying a CTI and SMA are often similar (depending on the chart timeframe)