Ultimate Oscillator is a free beginner friendly mt4 (Metatrader 4) indicator that shows precise overbought & oversold trading levels on the chart.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
The chart is considered overbought when the Ultimate Oscillator crosses above 70 while oversold when it crosses below 30.
Buy & sell signal:
- Open a buy position when the indicator crosses back above 30 from below and the underlying trend is upwards.
- Open a sell position when the indicator crosses back below 70 from above and the underlying trend is downwards.
Combine the Ultimate Forex Oscillator with a trend-following trading strategy or system.
Free Download:
Download the “Ultimate_Oscillator.mq4” indicator for MT4
Indicator Example Chart (GBP/USD H1)
The example chart below displays the Ultimate Oscillator mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method when trading with this technical oscillator indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Oscillator
Download Now:
Download the “Ultimate_Oscillator.mq4” indicator for Metatrader 4
How to install the Ultimate Oscillator in Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.