Open Oscillator MT5 Indicator


Open_Oscillator calculates Open price change dynamics for a specified period of time. It draws two lines – minimum and maximum Open prices for the range relative to the current values, as well as two signal lines.

It has two configurable parameters:

  • Period – calculation period;
  • Signal period – signal lines smoothing period.


Low = MinPos - Open
High = Open - MaxPos
SignalLow = EMA(Low, Signal period)
SignalHigh = EMA(High, Signal period)


  • MinPos – lowest price within the Period range;
  • MaxPos – highest price within the Period range.
The location of the signal lines relative to each other indicates a trend, the crossings of the signal and the oscillator lines indicate the entry direction.

MT5 Indicators – Download Instructions

Open Oscillator MT5 Indicator is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.

Open Oscillator MT5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies

Recommended Forex Metatrader 5 Trading Platform

  • Free $30 To Start Trading Instantly
  • Deposit Bonus up to $5,000
  • Unlimited Loyalty Program
  • Awards Winning Trading Broker

xm account

Click Here for Step By Step XM Trading Account Opening Guide

How to install Open Oscillator MT5 Indicator.mq5 to your MetaTrader 5 Chart?

  • Download Open Oscillator MT5 Indicator.mq5
  • Copy Open Oscillator MT5 Indicator.mq5 to your Metatrader 5 Directory / experts / indicators /
  • Start or restart your Metatrader 5 Client
  • Select Chart and Timeframe where you want to test your mt5 indicator
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
  • Right click on Open Oscillator MT5 Indicator.mq5
  • Attach to a chart
  • Modify settings or press ok
  • Indicator Open Oscillator MT5 Indicator.mq4 is available on your Chart

How to remove Open Oscillator MT5 Indicator.mq5 from your Metatrader 5 Chart?

  • Select the Chart where is the Indicator running in your Metatrader 5 Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

Open Oscillator MT5 Indicator (Free Download)

Click here below to download:

Download Now


Please enter your comment!
Please enter your name here