The Dynamic Trader MT5 Oscillator is usually shortened as DTOSC, and was established by Robert Miner.
The indicator is essentially a stochastic of RSI, but had its name unchanged (DTOSC) as a result of those who’ll continue searching for the indicator in that name.
The indicator is a type of additional normalization of RSI values that is carried out using a Stochastic, with the usual addition of the signal line.
What we see is two lines that are held inside a separate window, where one is the dual colored medium sea green and orange red DTOSC line, while the other is the gray Signal line.
Download the “Dtosc.ex5” MT5 indicator
The EUR/CAD H1 chart below displays the Dynamic Trader Oscillator Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the dual colored DTOSC line of the Dynamic Trader Oscillator Metatrader 5 forex indicator turns medium sea green.
Sell Signal: Go short when the dual colored DTOSC line of the Dynamic Trader Oscillator Metatrader 5 forex indicator turns orange red.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the lines of the Dynamic Trader Oscillator indicator intersects or the DTOSC line reverts to orange red.
Exit sell trade: Close all sell orders if while a bearish trend is running, the lines of the Dynamic Trader Oscillator indicator crosses or the STOSC line changes to medium sea green.
Tips: The use of the color change of the DTOSC line within the Dynamic Trader Oscillator indicator as signal is a suitable technique that satisfies medium-term trading.
For scalping and day trading, combine with a trend following indicator such as a 200 period moving average. Trade in the direction of the overall trend.
Download the “Dtosc.ex5” Metatrader 5 indicator
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Period, Price, Stochastic period, Stochastic slowing, Stochastic signal period, Stochastic signal method), 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 Dtosc.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)