Triangular Moving Averages (TMA) bands


The TMA bands is an indicator that I discovered on FXCM a few years ago.
From the screenshot below, we see that when the price hits the lower band, it's a possible reverse LONG signal. When it hits the upper band, it's a possible SHORT signal

TMA bands TradingView script published by Daveatt


1) The Take Profit 1 is the middle line, Take Profit 2 is the opposite band.
2) Once the TP1 is hit, I would set my Stop Loss to breakeven
3) Once the TP2 is hit, if I still want to stay in the trade, I'd set my Stop Loss to the TP1

That's what I call a trailing stop loss (or in that case a TP trailing) which we offered in the Trade Manager

It will be a powerful tool in your arsenal for some scalp/intraday trades.

Pricing plans and indicator

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Script URL

The trading script is available on TradingView

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