The Averages OsMA Forex Signal indicator for Metatrader 4 is an awesome oscillator that provides profitable trend trading signals.
The indicator appears in a sub-trading window as a colored oscillator that swings back and forth above the neutral 0.00 level.
Trading with the Averages OsMA Forex Signal indicator is simple and straight forward:
- A buy signal occurs when the indicator goes back above the 0.00 neutral level from below.
- A sell signal occurs when the indicator goes back below the 0.00 neutral level from above.
This indicator tends to work well for scalping and day trading during the London and American trading sessions.
The indicator works on all trading instruments (Forex, CFD stocks, Indices, Cryptocurrencies, Commodities,..).
Free Download
Download the “averages-osma-indicator.ex4” indicator for MT4
Indicator Example Chart (EUR/USD Daily)
How to trade with it (example)?
A long trade should be executed as soon as the Averages OsMA Forex Signal indicator crosses the 0.00 level upwards.
A short trade should be executed as soon as the Averages OsMA Forex Signal indicator crosses the 0.00 level downwards.
Exit the trade when an opposite trading signal appears on the chart, or for a risk to reward ratio of 1.5 or better.
Place a stop loss above or below the previous swing high/low price.
Indicator Specifications
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Time frame, OsMA price, fast MA, slow MA, signal MA, method, divergence visible, show signal, alerts ON, color settings & style
Indicator type: trend
Repaint? Does not repaint the Averages OsMA Forex Signal histogram bars on the chart.
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Download the “averages-osma-indicator.ex4” indicator for Metatrader 4
Usage:
Works for any trade style: scalping, day trading and swing trading .
The Averages OsMA Forex Signal indicator for MT4 can be utilized as a standalone signals indicator or can be traded together with other technical indicators and price action.
Installation:
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the averages-osma-indicator.ex4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.