Smoothed Hull Moving Average Forex Indicator
The oT_S_Ra-Signal_Line indicator for MetaTrader4 and was initially created by Allan Hull. The oT_S_Ra-Signal_Line indicator is essentially the Hull Moving Average or the HMA and it is used in spotting current market trend.
The curve of the oT_S_Ra-Signal_Line indicator is significantly smoother. The oT_S_Ra-Signal_Line is built to follow the price activity much closer. Traders use this indicator for long- and medium- term trading.
Usually, when more days are added to moving averages they tend to get more lag, and the oT_S_Ra-Signal_Line indicator was able to resolve this by adding more weight to the moving average.
The oT_S_Ra-Signal_Line indicator can be deplored just like the Aroon and ADX indicator, in a manner that allows it spot dominant trend. When the curve of the oT_S_Ra-Signal_Line is surging, the dominant trend is surging as well, while when the curve of the oT_S_Ra-Signal_Line is dipping, the dominant trend is also dropping as well.
There’s also a color notification that alerts traders to buy when the line changes to line and sell when the line changes to red.
The man behind this indicator advises the oT_S_Ra-Signal_Line crossings should be avoided.
The ability for the oT_S_Ra-Signal_Line indicator to overshoot current prices can also be perceived as a weakness, something traders needs to be wary of. In respect to its timely nature, the oT_S_Ra-Signal_Line indicator is very resources when spotting turning points designated for entries and exit.
The equation for the Hull moving average is shown below:
Integer (Square Root (Period)) WMA [2 x Integer (Period/2) WMA (Price) – Period WMA (Price)]
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (period, method, price), Colors, width & Style.
Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend, momentum