Simple Decycler Oscillator Metatrader 4 Forex Indicator
The Simple Decycler Oscillator is a great forex oscillator indicator, written for the MT4 platform.
The indicator consists of two colored crossing lines.
It’s a typical forex crossover system.
- A buy signal occurs when the blue line crosses above the gray line from below. The trend is heading up in this case.
- A sell signal occurs when the brown line crosses below the gray line from above. The trend is heading down in this case.
- It’s recommended to combine the Simple Decycler Oscillator with other technical indicators or price action techniques.
The EUR/JPY M15 chart below displays the Simple Decycler Oscillator Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the Simple Decycler Oscillator MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Initiate a buy order when the blue Simple Decycler Oscillator line crosses above the gray line from below.
Place a stop loss 2-3 pips below the most recent support or use your own preferred SL method.
Sell Signal: Initiate a sell order when the brown Simple Decycler Oscillator line crosses below the gray line from above.
Place a stop loss 2-3 pips above the most recent resistance level or use your own preferred SL method.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (slow high pass period, slow high pass multiplier, fast high pass period, fast high pass multiplier, price) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Copy and paste the Simple Decycler Oscillator.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)