Chaikin Oscillator Metatrader 5 Forex Indicator

The Chaikin Oscillator (CHO) Metatrader 5 forex indicator is a technical tool that displays the difference of moving averages of Accumulation/Distribution.

Considering there are no correct methods of technical analysis, it is advisable to use this oscillator along with other technical indicators.

For instance, use in conjunction with a 100 period simple moving average or a 75 period exponential moving average and trade in the direction of the overall trend.

Ignore signals from the Chaikin oscillator against the overall trend.

Free Download

Download the “cho.ex5” MT5 indicator

Example Chart

The GBP/USD H1 chart below displays the Chaikin Oscillator (CHO) Metatrader 5 forex indicator in action.

Basic Trading Signals

Buy Signal: Go long when the light sea green line of the Chaikin Oscillator (CHO) Metatrader 5 forex indicator breaks and hovers above the zero signal level and the overall trend is up.

Sell Signal: Go short when the light sea green line of the Chaikin Oscillator (CHO) Metatrader 5 forex indicator dips and hovers below the zero signal level and the overall trend is down.

Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the light sea green line of the Chaikin Oscillator (CHO) indicator dips below the zero center line.

Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the light sea green line of the Chaikin Oscillator (CHO) indicator surges above the zero alert line.

Tips: The Chaikin Oscillator (CHO) indicator is not a standalone tool, but should rather be used in conjunction with other technical indicators like the Envelopes and moving averages.

Download

Download the “cho.ex5” Metatrader 5 indicator

MT5 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 5

Type: chart window indicator

Customization options: Variable (Fast MA period, Slow MA period, MA method, Volumes), Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: momentum

Installation

Copy and paste the cho.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL5 > Indicators (paste here)

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