Double HMA MTF for MT4 can be found within the indicators section of the MQL5 marketplace, there is a link directly to it below. It indicator was created by Pavel Zamoshnikov, he first uploaded it to the MQL5 marketplace on the 11th of January 2019, it received a further update on the 24th of January 2019 and is currently at version 1.3.
Overview
Double HMA MTF for MT4 is an indicator for MetaTrader 4, it is an indication that works on multiple timeframes and uses Hull Moving Averages.
The indicator comes with a graphical panel which holds all the HMA data, the panel will indicate if the HMA switches direction and also displays a test and sound effect to indicate this. It will be located within its own separate window rather than directly on the chart.
The signals are generated in a couple of different ways:
-The possible signal is generated when the HMA color is switched and when the bar of the higher TF is not closed yet. The possible signal is displayed on the graphic panel with a question mark. It is risky to open a deal on this signal because it can be canceled if the HMA color is restored before closing the higher TF bar. However, the possible signal allows you to open a trade at the best price. The possible signal can be switched off.
-The final signal is generated by switching the color of the HMA of the higher TF and the bar of the higher TF has already closed. This signal is never redrawn.
-The final signal is displayed on the graphic panel with an exclamation mark.
There are a number of different parameters, some of them include the offset of higher TF relative to current TF, the HMA time periods, to enable or disable signals, arrows, colors, to show legend, to turn alerts on or off and the type of alert to use.
Service Cost
The indicator will currently cost you $30 to purchase it outright, this version will come with no limitations. Indicators on the MQL5 marketplace often have the ability to rent them, however, this one does not. There is a free demo version, however, the limitations of this version are not known as they are not mentioned on the MQL5 website, it may be worth downloading to try out the indicator without having to make a purchase.
Conclusion
There is just one review that sums up their thoughts on the indicator in one word.
“Useless” – A 1-star review.
So the only review is not a positive one, there are a few comments too, the developer of the indicator has been replying to them which is great to see and shows that they are still supporting the indicator and its users. As there aren’t too many reviews available we would suggest downloading and trying out the free version so you can see how it functions and whether or not it does what you need it to do.
This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/33733
