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)