The Price Momentum Oscillator Forex indicator for Metatrader 5 tracks market momentum and delivers precise buy and sell signals for any FX pair.
The indicator is displayed as a crossover trading system in a separate trading chart.
How to spot a bull & bear trend with the price momentum oscillator?
- A bull trend occurs when the blue colored line is displayed on the chart.
- A bear trend occurs when the orange colored line is displayed on the chart.
The indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
The following indicator inputs and parameters can be modified: period, period 2, signal period, price, and color mode.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
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Price Momentum Oscillator.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Price Momentum Oscillator indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Price Momentum Oscillator Forex Indicator?
Find a simple trading example below:
Buy Signal
- A bullish signal is given when the blue colored Price Momentum Oscillator line appears on the chart.
- Open a buy trade and set your stop loss below the most recent support area.
- Close the buy trade for a fixed take profit target, or wait for an opposite trading signal (sell).
Sell Signal
- A bearish signal is given when the orange colored Price Momentum Oscillator line appears on the chart.
- Open a sell trade and set your stop loss above the most recent resistance area.
- Close the sell trade for a fixed take profit target, or wait for an opposite trading signal (buy).
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Price Momentum 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 Price Momentum 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