Thursday, August 5, 2021
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Oscillator 4.0

Overview

This is a smooth and responsive accelerometer which reveals the market trend and strength.

  • Two moving averages indicate trend direction
  • The histogram represents strength of the price movement
  • It draws buy and sell zones as colored vertical lines
  • Should be used as a confirmation indicator
  • Customizable line widths and colors
  • It implements alerts of all kinds

This indicator is similar to MACD but aims to react faster to price changes.

Screenshots

Parameters

When loading the indicator or EA to any chart, you will be presented with a set of options as input parameters. Don’t despair if you think they are too many, because parameters are grouped into self-explanatory blocks.

Period

Period in bars for the oscillator

Averaging

Averaging period for the oscillator

Max History Bars

Amount of past bars to evaluate upon loading

Display Zones

Enable or disable vertical buy and sell zones

Alerts

Enable or disable alerts of all kinds

HOW TO INSTALL METATRADER INDICATORS ON MT4

Installing indicators on MT4 comes down to:

  1. Downloading the files (.ex4 and .mq4 formats) – Right click the download button and Save link as…
  2. Placing them in the MT4 “Indicators” Data Folder
  3. Closing and re-starting your MT4 terminal
  4. Dragging you indicator from the Navigator to the Forex Chart

Downloading the indicator.

Download and prepare the MT4 indicator file(s) so they are ready to go on your computer. (Please note that some custom indicators will come in a .rar file, so make sure to extract the .ex4 and .mq4 files).

Go back to your Metatrader 4 platform, click the File Tab and select “Open Data Folder” to get access to the system folders for the MT4 program:

Open data folder. File-Open Data Folder

Placing them in the MT4 “Indicators” Data Folder.

Go to the “MQL4” folder and the “Indicator” subfolder and open the folder.

Drag or copy and paste the custom indicators files to the “Indicators” subfolder.

Restart the MT4 program. When MT4 loads again, you should see your custom indicator added to the directory in the navigation window.

Go to the navigation window and scroll down the menu to “Indicators”, pick the one you want to use and drag it to your chart.

For a video on how to install you MT4 indicators please visit our Youtube channel.

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Trevor Woodmanhttp://www.metatraderindicators.com
MetatraderIndicators.com was developed by Forex traders for traders. We wasted hours, probably years, looking for indicators, software and Forex broker reviews. Metatraderindicators.com is a hub for technical traders. It represents years of work, knowledge and experience. Enjoy and stay true to your passion.
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