The Winning Forex Oscillator indicator for Metatrader 5 delivers multiple trade entries and exits every day and works well for both scalpers and day traders.
It appears as a green/red colored filled oscillator in a separate chart window.
The trading rules are very easy to understand, even for absolute beginners:
- A green colored filled oscillator indicates a buy trend.
- A red colored filled oscillator indicates a sell trend.
The following indicator inputs and parameters can be modified: oscillator period (25), price.
The 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.
It supports all time frames and Forex pairs.
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The following chart shows how the Winning Forex Oscillator indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Winning Forex Oscillator Indicator?
Find a simple trading example below:
- The appearance of the green colored filled oscillator is a buy signal.
- Open a buy trade and place a protective stop loss below support.
- Close the buy trade for a fixed profit target or hold the trade until the color changes back to red.
- The appearance of the red colored filled oscillator is a sell signal.
- Open a sell trade and place a protective stop loss below support.
- Close the sell trade for a fixed profit target or hold the trade until the color changes back to green.
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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 Simple oscillator.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