An oscillator is a technical analysis indicator that varies over time within a band (above and below a center line, or between set levels). Oscillators are used to discover short-term overbought or oversold conditions. Common oscillators are MACD, ROC, RSI, CCI.
Characteristics of Sonic Oscillator Indicator
- Platform: Metatrader4
- Currency pairs: Any
- Trading Time: Around the clock
- Timeframe: Any
How does it work?
For A Short Trade:
- Awesome Oscillator Turns Red
- Accelerator Oscillator Turns Red
- The Parabolic SARS is above the current Candle
- All conditions for a short must be met below the 200EMA
- Go Short at the opening of the next candle
For a Long Trade:
- Awesome Oscillator Turns Green
- Accelerator Oscillator Turns Green
- The Parabolic SARS is below the current Candle
- All conditions for a Long trade must be met above the 200EMA
- Go long at the opening of the next candle.
How to install a custom indicator to your MetaTrader 4 platform
1. Locate and copy the MT4 custom indicator file on your computer. These are the MT4 indicator files that you would have downloaded.
2. Open the data folder.
3. Open MQL4 file.
4. Open the indicators folder.
5. Paste the files.
6. Restart MetaTrader 4.
All is Done!