The zero lag Momentum OsMA indicator for Metatrader 5 shows a trend histogram on the chart that delivers trading signals with zero lag involved.
It’s composed of momentum and the Oscillator of Moving Average (OsMA) technical indicators.
The indicator gets loaded in a dedicated chart window as a colored trend oscillator.
How to interpret the zero lag Momentum OsMA technical indicator?
- A buy trend occurs when the blue colored histogram bars trade above the 0 level.
- A sell trend occurs when the orange colored histogram bars trade below the 0 level.
Configurable parameters and input settings: smoothing 1, smoothing 2, momentum period, factor.
The zero lag Momentum OsMA indicator works for any trading instrument offered by the Metatrader 5 charting 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 picture below illustrates how the Zero Lag Momentum OsMA indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Zero Lag Momentum OsMA Indicator?
Find a simple trading example below:
- The first blue colored histogram bar above 0 generates a buy signal.
- Initiate a buy market order and place your stop loss below the previous swing low price.
- Close the buy trade for a fixed pips target of your preference, for example +20 pips on the 5-minute chart.
- The first orange colored histogram bar below 0 generates a sell signal.
- Initiate a sell market order and place your stop loss above the previous swing high price.
- Exit the sell trade for a fixed pips target of your preference, for example +40 pips on the 30-minute 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 colorzerolagmomentumosma.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