Trend Wave Oscillator Metatrader 4 Forex Indicator

The Trend Wave Oscillator Metatrader 4 forex indicator is an oscillator that delivers fast and more accurate buy/sell trade entries during trending market sessions.

The Trend Wave Oscillator indicator offers valuable trading information in line with overbought/oversold market conditions.

It is added to the trading chart within a separate window, which shows two lines (red and lime) running across the dotted marked levels of 50, 60, -50 and -60, to trigger buy/sell market entry points.

An aqua buy signal dot pops up when the red line crosses the lime line bottom up when the lines are below the -60 oversold level.

Yellow signal dots are as a result of the red line crossing the lime line in a top downward manner when both lines are above the 60 level.

Free Download

Download the “trend-wave-oscillator.ex4” MT4 indicator

Example Chart

The USD/JPY M30 chart below displays the Trend Wave Oscillator Metatrader 4 forex indicator in action.

Basic Trading Signals

Buy Signal: Go long when the aqua signal dot of the Trend Wave Oscillator Metatrader 4 forex indicator pops up around the -60 signal level.

Sell Signal: Go short when the yellow signal dot of the Trend Wave Oscillator Metatrader 4 forex indicator gets displayed around the +60 signal level.

Exit buy trade: Close all buy orders if while a bullish trend is running, the lime line of the Trend Wave Oscillator indicator breaks above the +60 signal level.

Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the lime line of the Trend Wave Oscillator indicator breaches below the -60 signal level.

Tips: Interestingly, the Trend Wave Oscillator indicator adds a sound alert function to its inputs parameter, thereby simplifying the trend signal mechanism.

Try for any trade style (scalping, day trading, swing trading).

Download

Download the “trend-wave-oscillator.ex4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart window indicator

Customization options: Variable (Wave Period, Avg Period, Sound Alert, Sound Alert), width & Style.

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

Type: trend | oscillator

Installation

Copy and paste the trend-wave-oscillator.ex4 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)

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