The 5-34-5 Trading Oscillator for MT4 provides easy to read oscillator based trading signals for any currency pair.
The trend is considered to be short-term bullish above the zero level of the 5-34-5 trading oscillator.
The trend is considered to be short-term bearish below the zero level of the 5-34-5 trading oscillator.
The 5-34-5 trading oscillator consists of two signal lines, a red and blue one.
The crossover of both signal lines creates buy and sell forex signals.
- When the red signal line crosses the blue signal line from below, this creates a buy trade signal
- When the red signal line crosses the blue signal line from above, this creates a sell trade signal
The EUR/USD M5 chart below displays the 5-34-5 Trading Oscillator Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the 5-34-5 Trading Oscillator Metatrader 4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade position when the red signal line crosses the blue signal line from below and the 5-34-5 trading oscillator is trading above its zero level.
Sell Signal: Open sell trade position when the red signal line crosses the blue signal line from above and the 5-34-5 trading oscillator is trading below its zero level.
Trade Exit: Close the open trade position when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the 5-34-5-oscillator.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)