The super DSP Buy & Sell Forex oscillator for Metatrader 5 is a valuable signals tool that shows the most profitable trend at any given moment.
DSP is the abbreviation of Detrended Synthetic Price .
The indicator gets loaded in a dedicated chart window as a green and colored signal line that follows the trend.
How does it work?
- The market is considered bullish when the green DSP line is displayed in the chart.
- The market is considered bearish when the orange DSP line is displayed in the chart.
The indicator allows customizing the following settings and parameters: DSP period, DSP price, signal period, change color on levels cross.
It works for any currency pair of your preference, including the majors, minors and exotics.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
Its overall performance will vary depending on market conditions, remember to have realistic expectations.
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The following chart shows how the super DSP Buy & Sell Forex oscillator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Super DSP Buy & Sell Forex Oscillator?
Find a simple trading example below:
- Open a buy trade as soon as the green colored DSP oscillator line gets displayed in the chart.
- Place a protective stop loss below support.
- Exit the buy trade for a predetermined profit target of your preference.
- Optional: close the trade when the orange colored DSP line pops-up in the chart.
- Open a sell trade as soon as the orange colored DSP oscillator line gets displayed in the chart.
- Place a protective stop loss above resistance.
- Exit the sell trade for a predetermined profit target of your preference.
- Optional: close the trade when the green colored DSP line pops-up in the chart.
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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 Detrended_Synthetic_Price_zoscillatoru.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