Extreme TMA System For MT4 Intro
Here we have the Extreme TMA System For MT4 set up on the USD versus the CHF on the one hour time frame and we can see a channel that is similar to the Bollinger band in the concept only and two moving averages plus the RSI (14).
The Extreme TMA System For MT4 is displaying for you the following:
The current day profits, the pair that it shoud have traded on, and finally the break even price for the previous trade. On the other side the Extreme TMA System For MT4 is showing you the ATR, the trading pair spread and in this sample we choose to place it on the USDCHF.
Furthermore, it shows you the slope average as you see on below right for different time frames and that might be a good thing for some traders.
How to use Extreme TMA System For MT4
How is that Extreme TMA System For MT4 works and how to use it?
Generally, the system is trying to show you or get you the results of the average of the price action path that happened in the market and based on that it tries to predict the future movements, and or supply and demand flexable areas. The issue of that system is the indicators of it for sure is repainting themself and if I were you I'd just learn about it but never use it because, repainting shows you profits in the past but may destroy you in the future.
As you see in the screenshot we shared above there are 3 bounds which is the high average, low average, and the average price between the highs and lows generated and displayed automatically.
The second indicator we have here is the main one of the system which is the Extreme TMA and that allows you to see the results below right on the chart for the slope, and by that it understands in which direction should the trade be done whether a buy trade or a sell trade, and that is how that system works in that point specifically.
By checking the system you will find that it has seven TMA systems and that doesn't mean seven versions you can run them all together. one minute time frame, 5 minutes time frame until the monthly time frame and for sure every time frame has a different color and you can edit these colors from the parameters easily.
The 1H time frame is taking the dark orange color, the daily time frame is taking the aqua color, and finally the monthly time frame is using the Sienna color.
The time frames and levels displaying are attached to each other so that means if you need to see more levels for the low time frames you may need to load the template on low time frame. For example to display the one hour time frame levels you should load the template on one hour time frame or a lower time frame as if you loaded it on four hours time frame you will not see the levels of the lower time frames, etc.
The main publisher of the Extreme TMA System For MT4 is recommending it to use it on any time frame starting from the four hours time frame as if it is a lower time frame than that it will not give you the results that you wait, having that said remember that it is a repainting system which we do not recommend to use.
The Extreme TMA System For MT4 trading rules are clear enough and we will explain it to you:
It will not open any trade if the slope are between plus 0.30 or minus 30 which means that you might try using these areas as bounce areas if we consider that this strategy is accurate.
So, if the market broke 0.30 slope level the Extreme TMA System For MT4 will enter a buy trade and the same as well if it broker the -.30 the Extreme TMA System For MT4 will sell.
The second rule is to wait the price to break the highest bound level or the lowest one, same as you do with the Bollinger band when you wait the price to break the highest level to sell or break the lowest level to buy, Extreme TMA System For MT4 seems like an old school system.
After all that the Extreme TMA System For MT4 says to merge all these steps with actual support, or resistance areas to support your trade so, it is like confirming your trades with supply and demand areas even if the Extreme TMA System For MT4 rules are executed.
Now, let us talk a little bit on how or when to close your trades whether on profits or losses, when the price reach the TMA center line on the four hours time frame or higher it is the right time to leave the trade, while I think that it may just touch it and bounce again. That is considered as the safest exit.
The second type of closing your trade is when the price reaches the second TMA line which is the highest or lowest after the center line, or you can simple put trailing stop of ten pips in case of you have got profits and need to be in the safe side.
Last and not least as the entrance is when the price reach -0.30 or 0.30 the exit are when the slope levels reach -0.60 or 0.60.
That is how the Extreme TMA System For MT4 works in short words.
Extreme TMA System For MT4 Pros & Cons
The cons of the Extreme TMA System For MT4 is that it depends on some repainting indicators and at the end still the creator suggests to use it with supply and demand areas, if I were you I would just just the supply and demand areas with the price action to have stronger signals.
The pros of that Extreme TMA System For MT4 are not much, still you can test it on demo and see if it will work for you, but I highly doubt that the pubisher of it really made any profits through it for a long time.
Summary of Extreme TMA System For MT4
The summary of the Extreme TMA System For MT4 is that this system is depending on many factors like the pricing average, some moving averages and similar thing to the Bollinger band which means all the factors that the system depends on are repainting factors maybe when many repainting tools meet each other makes magic but still not going to use it for myself.
So, test it many times before you decided to go with this system and the most important is to understand the core of the indicators that it depends on.