Introduction to the TTF MW Indicator
Momentum reversal signals are useful technical indicators because it allows traders to objectively identify trade entry signals without second guessing themselves. The question is which momentum reversal signal indicator to use. Some have too much lag while some are very unreliable.
Let us explore the TTF MW Indicator as a momentum-based technical indicator and how we can incorporate it in our trading strategies.
What is the TTF MW Indicator?
TTF stands for Trend Trigger Factor. The TTF MW Indicator is a custom technical indicator which identifies short-term trends or momentum and indicates its direction by placing dots above or below a price candle.
How the TTF MW Indicator Works?
The TTF MW Indicator detects the buying power and selling power. It identifies buying power by comparing the most recent highest high with the prior high within a predetermined number of TTF bars. It also does the same for the selling power only that it compares the recent lowest low with the prior low. It then computes for the ratio between the difference of the buying power and selling power with the half of the sum of the buying power and selling power. It is a complex formula which computes the TTF in sequence. The indicator then plots green bars below a candle to indicate a bullish momentum, and red bars above a candle to indicate a bearish momentum.
How to use the TTF MW Indicator for MT4
The TTF MW Indicator has a few variables that can be modified within its settings.
“TTFbars” refers to the number of bars in which the highest highs and lowest lows would be compared on. The lower the number, the more sensitive it is.
The TTF MW Indicator can be used as a trend or momentum direction filter. Traders can trade exclusively in the trend or momentum direction indicated by the TTF MW Indicator.
It can also be used as a momentum reversal indicator, wherein traders will use the shifting of the dots and the changing of its color as an entry signal. However, this should be in confluence with other trade setups or indications.
Buy Trade Setup
When to Enter?
Open a buy trade as soon as a TTF MW dot shifts below price and changes to green while in confluence with a bullish reversal candlestick pattern. Set the stop loss below the candlestick pattern.
When to Exit?
Close the trade as soon as price action shows signs of a probable reversal.
Sell Trade Setup
When to Enter?
Open a sell trade as soon as a TTF MW dot shifts above price and changes to red while in confluence with a bearish reversal candlestick pattern. Set the stop loss above the candlestick pattern.
When to Exit?
Close the trade as soon as price action shows signs of a probable reversal.
Conclusion
The TTF MW Indicator is a very useable momentum reversal indicator. It could be a very effective momentum reversal entry trigger especially when it is in confluence with another trade signal or setup.
MT4 Indicators – Download Instructions
TTF MW Indicator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.
TTF MW Indicator for MT4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
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How to install TTF MW Indicator for MT4.mq4?
- Download TTF MW Indicator for MT4.mq4
- Copy TTF MW Indicator for MT4.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 4 Client
- Select Chart and Timeframe where you want to test your MT4 indicators
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
- Right click on TTF MW Indicator for MT4.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator TTF MW Indicator for MT4.mq4 is available on your Chart
How to remove TTF MW Indicator for MT4.mq4 from your Metatrader Chart?
- Select the Chart where is the Indicator running in your Metatrader 4 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
TTF MW Indicator for MT4 (Free Download)
Click here below to download:
