Overbought/Oversold oscillator displays the market movement direction color histogram in a separate window.
The indicator has three input parameters:
- Period – calculation period
- Overbought – overbought level
- Oversold – oversold level
Up = EMA(EMA((WP-EMA(WP)) / StdDev(WP))) Down = EMA(Up, Period)
EMA – EMA(PRICE_WEIGHTED, Period) StdDev – StdDev(PRICE_WEIGHTED, Period) WP – weighted price (High+Low+Close+Close)/4
The upward movement is displayed by the green histogram
The downward movement is displayed by the red histogram
Uncertain movement is displayed by the gray histogram
MT5 Indicators – Download Instructions
OBOS MT5 Indicator is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
OBOS 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.
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How to install OBOS MT5 Indicator.mq5?
- Download OBOS MT5 Indicator.mq5
- Copy OBOS 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 OBOS MT5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator OBOS MT5 Indicator.mq4 is available on your Chart
How to remove OBOS 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
Click here below to download: