The AMA with Noise Filter indicator for Metatrader 5 is a trend trading tool with a built-in market noise filter used to predict future currency trends.
AMA is the abbreviation of Adaptive Moving Average.
The market noise filter enhances trend accuracy predictions and reduces the occurrence of false signals.
Spotting buy and sell trends with this technical tool:
- A buy trend is confirmed when the candles are positioned above the purple colored line.
- A sell trend is confirmed when the candles are positioned below the purple colored line.
The indicator allows customizing the following settings and parameters: fast MA, slow MA, range, noise filter, and level.
The AMA with Noise Filter indicator can be seamlessly combined with other technical indicators, but it is also effective as a standalone trading tool.
Please make yourself familiar with this technical tool and test it first on a demo account before using it in a real trading account.
Scalpers and day traders are likely to benefit the most from utilizing this tool during periods of high market volatility.
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Chart Example
The picture below illustrates how the AMA with Noise Filter indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The AMA with Noise Filter Forex Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is confirmed when the candle crosses the purple colored AMA line bottom up.
- Open a long trade and place a stop order just below technical support.
- Exit the buy trade for a risk to reward ratio of at least 1.5, or hold and wait for a bearish AMA trend reversal signal.
Sell Signal
- A sell signal is confirmed when the candle crosses the purple colored AMA line top down.
- Open a short trade and place a stop order just above technical resistance.
- Exit the sell trade for a risk to reward ratio of at least 1.5, or hold and wait for a bullish AMA trend reversal signal.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the ama_stl.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration