The Rahul Mohindar Forex Oscillator for Metatrader 4 can be classified as a buy & sell technical indicator that can be used for trade entries and exits.
The indicator appears in a bottom chart of the platform as an oscillator that fluctuates above and below the zero level.
- The trend is considered bullish when the red histogram crosses back above 0.
- The trend is considered bearish when the red histogram crosses back below 0.
- Can work as a standalone buy/sell indicator.
- Great tool for scalpers and day traders.
Indicator Example Chart
The EUR/USD H1 chart below shows the Rahul Mohindar Forex Oscillator indicator in action.
Basic Trading Signals
Signals from the Rahul Mohindar Forex Oscillator indicator for Metatrader 4 are easy to interpret and goes as follows:
- A new buy signal is generated when the red histogram crosses the zero level bottom-up.
- Set a stop loss below technical support.
- Exit the buy trade for a risk-to-reward of 1.5, or wait for an opposite sell trading signal.
- A new sell signal is generated when the red histogram crosses the zero level top-down.
- Set a stop loss above technical resistance.
- Exit the sell trade for a risk-to-reward of 1.5, or wait for an opposite buy trading signal.
Download This Forex Indicator
Adjustable Parameters & Settings
MA length, depth, signals smooth, price, show signals, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Oscillator
How to install the Rahul Mohindar Forex Oscillator indicator in Metatrader 4?
- Copy and paste the rahul-mohindar-oscillator-rmo.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button