The Rahul Mohindar oscillator indicator for Metatrader 5 follows the best currency trend and it’s based on 3 exponential moving averages.
It draws a colored buy/sell histogram in a bottom chart window.
The indicator does not repaint the trend histogram bars in any way.
How to interpret this indicator?
- The green colored Rahul Mohindar histogram bars show a buy trend.
- The red colored Rahul Mohindar histogram bars show a sell trend.
The following indicator inputs and parameters can be modified: first EMA period, second EMA period, third EMA period, applied price.
The Rahul Mohindar indicator works for any trading instrument (Forex, Stocks, Indices, etc.) that can be loaded in the Metatrader 5 platform.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
It supports all time frames and Forex pairs.
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The following chart shows how the Rahul Mohindar Forex Oscillator indicator looks like when applied to the MT5 chart.
How To Buy And Sell FX Pairs With The Rahul Mohindar Forex Oscillator Indicator?
Find a simple trading example below:
- A buy signal is given when the Rahul Mohindar histogram bars turn back above zero (green color).
- Open a buy trade and place your stop loss slightly below technical support.
- Exit the buy trade for a fixed take profit of your preference or wait for a sell signal.
- A sell signal is given when the Rahul Mohindar histogram bars turn back below zero (red color).
- Open a sell trade and place your stop loss slightly above technical resistance.
- Exit the sell trade for a fixed take profit of your preference 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 Rahul_Mohindar_Osc.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