The Hurst Oscillator Metatrader 5 forex indicator is described in Jim Hurt’s “The Magic of Stock Transaction Timing” book.
Forex traders can deploy the indicator as a divergence tool, where it searches for divergences between price and the Hurst oscillator line.
The other method is by considering the Hurst MT5 Oscillator line cross below and above the zero signal level as a likely pointer to the development of a new trend.
- A line cross above the zero line is considered bullish.
- A line cross below the zero line is considered bearish.
Tweaking the Hurst Oscillator indicator is made possible by the provision of two inputs variable settings i.e. the “Period” and “Smoothing”.
The EUR/JPY H1 chart below displays the Hurst Oscillator Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the forest green line of the Hurst Oscillator Metatrader 5 forex indicator breaks above the zero signal level from below.
Sell Signal: Go short when the forest green line of the Hurst Oscillator Metatrader 5 forex indicator dips below the zero center line from above.
Exit buy trade: Close all buy orders if while a bullish trend is running, the forest green line of the Hurst Oscillator indicator falls below the zero signal level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the forest green line of the Hurst Oscillator indicator emerges above the zero center line.
Tips: To obtain optimal results when using the Hurst Oscillator indicator, it must be used together with other technical indicators.
For example, combine Hurst with moving averages (SMA or EMA), Bollinger Bands, ADMI,..
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Period=20, Smoothing=3), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend | oscillator
Copy and paste the Hurst_Oscillator.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)