The KVO Oscillator MT4 forex indicator is based on the MACD indicator but with a smart twist.
It uses different settings for the Fast EMA, Slow EMA and Signal EMA (34, 55, 13).
KVO displays histogram price bars together with a red signal line.
It creates a short-term trend following forex system that is useful for both scalping and day trading purposes.
Gray KVO histogram bars aligned above the zero level are said to be bullish.
Conversely, gray KVO histogram bars aligned below the zero level are said to be bearish.
The red signal line fluctuates above and below the zero line.
The default KVO settings can be changed directly from the indicator’s inputs tab. Feel free to experiment with different settings.
Free Download
Download the “kvo-oscillator.mq4” MT4 indicator
Example Chart
The EUR/USD Hourly chart below displays the KVO Oscillator Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the KVO Oscillator MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: A buy signal occurs when the gray KVO oscillator histogram bars are aligned above the zero line AND the red signal line crosses above the zero line from below.
Sell Signal: A sell signal occurs when the gray KVO oscillator histogram bars are aligned below the zero line AND the red signal line crosses below the zero line from above.
Download
Download the “kvo-oscillator.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (FastEMA, SlowEMA, SignalEMA) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Oscillator
Installation
Copy and paste the kvo-oscillator.mq4 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)