Extreme TMA Line is a well-known channel indicator included into multiple Extreme TMA strategies.
There are five inputs:
- TMA period - TMA calculation period
- ATR period - ATR calculation period
- ATR multiplier - channel width ratio
- Trend threshold - trend type switch threshold
- Redraw - recalculation for compensating the indicator redrawing (Yes/No)
The indicator draws three lines: central (colored) and two channel ones. When detecting a bullish trend, the central line is colored green. When detecting a bearish one, the central line is colored red. The flat state is marked by gray color.
Fig. 1. Extreme TMA Line, Redraw = Yes
Fig. 2. Extreme TMA Line, Redraw = No