The Percentage Price Oscillator (PPO) for Metatrader 5 is based on price and provides buy and sell signals that work out of the box for currency traders.
PPO appears in an indicator window underneath the price chart as blue and orange colored trading zones.
How does it generate trading signals?
- The appearance of the blue colored trading zone represents a buy trade.
- The appearance of the orange colored trading zone represents a sell trade.
The following indicator inputs and parameters can be modified: fast calculation period, slow calculation period, and price.
Tip for scalping with the Percentage Price Oscillator (PPO) oscillator:
- Deploy on the low spread currency pairs.
- Trade only during the most volatile trading hours.
It supports all time frames, Forex pairs, Indices, Stocks, Metals, etc.
Make yourself familiar with this technical indicator and test it first on a demo account before using it on real trading account.
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Chart Example
The following chart shows what the Percentage Price Oscillator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Percentage Price Oscillator?
Find a simple trading example below:
Buy Signal
- A buy signal is formed when the price oscillator draws the blue colored trading zone on the chart.
- Open a buy trade and set a stop order below the most recent swing low price.
- Exit the long trade for a fixed take profit target, or wait for a sell signal.
Sell Signal
- A sell signal is formed when the price oscillator draws the orange colored trading zone on the chart.
- Open a sell trade and set a stop order above the most recent swing high price.
- Exit the short trade for a fixed take profit target, or wait for a buy signal.
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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 PPO.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