The Murreys Math Oscillator indicator for Metatrader 5 follows the overall trend and provides buy & sell trading signals.
The trading signals appear in a separate chart as colored histogram bars that never repaint.
How does it work?
- Murreys Math bars above zero are considered bullish.
- Murreys Math bars below zero are considered bearish.
It can be used as a standalone technical tool or combined with other technical indicators.
When trading off the lower time frames, deploy the Murreys Math Oscillator in the London and New York trading sessions for better overall performance.
The indicator contains the following inputs and parameters: period, multiplier, and show levels.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
Download Indicator 🆓
Murreys_Math_Oscillator.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Murreys Math Oscillator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Murreys Math Oscillator?
Find a simple trading example below:
Buy Signal
- A buy signal occurs when the green colored histogram bars show up in the chart.
- Open a buy transaction and place your stop loss 3 pips below the most recent support area.
- Reverse the buy trade when the Murreys Math histogram bars move back below zero.
Sell Signal
- A sell signal occurs when the brown colored histogram bars show up in the chart.
- Open a sell transaction and place your stop loss 3 pips above the most recent resistance area.
- Reverse the sell trade when the Murreys Math histogram bars move back above zero.
Download Now 🆓
Murreys_Math_Oscillator.mq5 Indicator (MT5)
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 Murreys_Math_Oscillator.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