Indicator to display trends using MT5 ‘s triple Exponential Moving average (TEMA)
There are many MT5 standard indicators that are not available in MT4. There seems to be something for MT4 if you look for a custom indicator for a fee or free, but there is a sense of security that is prepared by the standard. If you use only the chart analysis, I wonder if the MT5 is more convenient.
I would like to be prepared in MT4 without stinginess, what is the situation of adults. I’m putting a force in the MT5, but I feel like I’m not putting so much effort in MT4.
This triple Exponential Moving average is said in Japanese, the three-weight exponential moving mean, the calculation method is double Exponential Moving average (double exponential moving mean), Similar to those of the so-called Dema.
I think that the similarity of these two technical indices can be imagined if it is heard that Dema is used when calculating the TEMA calculation.
What you want to do by calculating a double or triple moving average line is that you want to understand the trend as accurately as possible without being misled by the irregular movement of the market. The aim is the same in both Dema and Tema, but it is calculated by using Dema more in Tema.
As a result, it seems that the effect of the noise has decreased considerably when I display it in the chart, but what is it really like?
This time, using the Tema, I tried to create an indicator for the trend decision.
Enter one or two for the parameter ‘ Level ‘. One of the more stringent trend decisions.
Tema indicator