Technical Indicators for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
The Psychological Oscillator MT5 Forex indicator is an excellent modification of the classic oscillator that will help you in trading for MetaTrader 5.
INFORMATION ABOUT THE INDICATOR
The Psychological Oscillator MT5 Forex indicator is presented in the form of a color histogram and has all the qualities of forex oscillators.
There are also zones, when and in which zones the market is located.
Everything is done simply and as clearly as possible so that all traders can understand it without any difficulties.
HOW TO USE THE INDICATOR
The Psychological Oscillator MT5 Forex indicator, due to its simplicity, is recommended for novice traders. In combination with trend indicators, it can become one of the key elements of a forex trading strategy.
This indicator Psychological Oscillator MT5 also has a built-in notification system so that the trader can quickly assess the market. You can read more about this in the screenshots below.
The Psychological Oscillator MT5 indicator displays text and audio alerts, and can also send messages by e-mail and SMS about the following events:
- overbought zone breakdown;
- trend in the overbought zone;
- the breakdown of the middle line of the indicator is the beginning of a Buy trend;
- continuation of the Buy trend outside the overbought zone;
- continuation of the Sell trend outside the oversold zone;
- the breakdown of the middle line of the indicator is the beginning of a Sell trend;
- the trend in the oversold zone;
- the breakdown of the oversold zone.
With such a set of notifications, a trader will never miss an important signal from the indicator. You can always adjust it to suit yourself. And as you can see, the indicator notifies you of almost all changes in the market, which is extremely useful today and you won't earn much without it. You can read more about the buy and sell signals in the screenshots. It is highlighted in color when to sell and when to buy.
Recommended timeframes. The indicator fits all time intervals. The only thing that changes is the settings. The indicator is also great for scalping.
INDICATOR SETTINGS
---------SETTING---------
Psycho Period - change of the central line of the indicator
Price constant - price constant
Horizontal shift of the indicator in bars - horizontal shift of the indicator in bars
Overbought level (Upper level) - overbought level
Overbought level (Medium level) - medium level
Oversold level (Lower level) - oversold level
The number of the signal bar - the number of the signal bar
---------SETTING ALERTS---------
Alert resolution - Signal resolution
Number of alerts - The number of signals sent at a time
Permission to send a signal by mail - permission to send signals to the mail
Permission to send a signal to a mobile - permission to send signals to a phone
