TrendOSC Indicator has been developed as an oscillator that is able to detect possible reversal areas of the market trends. This indicator enables you to closely monitor the market trends, measure the trend strength level, and catch a momentum from a very early stage so that you can make the most out of your trade entries. This trend oscillator can also be added with other forex trading strategies for greater results.
TrendOSC Indicator is suitable for analyzing all kinds of forex currency pairs in the financial markets. Besides, this versatile indicator suits all sorts of timeframe charts within the forex MT4 trading platform.
TrendOSC Indicator Overview
Download and install the indicator on your MT4 terminal. Once you’re done, find your chart like the following image:
TrendOSC Indicator Explanation
TrendOSC Indicator has been built with a combination of smoothed MACD and weighted moving averages calculated on typical methods. As an oscillator indicator, it slightly lags while defining the changes in the market trends but offers a better confirmation of the trade signals.
TrendOSC with positive value represents the bullish trend of the market and turns negative in the case of a bearish market trend. An increasing value on either side expresses a greater strength of the current market trend. TrendOSC value at the zero level means the market is sidelined and the trend is in a neutral condition.
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TrendOSC: Buy Conditions
- TrendOSC value rises above its neutral level
- Price candle closes as a bullish bar
- Buy triggers after the above conditions are met
- Set stop loss below the current low of the market
- Exit long or take profit whenever TrendOSC value turns negative
TrendOSC: Sell Conditions
- TrendOSC value drops below its neutral level
- Price candle closes as a bearish bar
- Sell triggers after the above conditions are met
- Set stop loss above the current high of the market
- Exit short or take profit whenever TrendOSC value turns positive