Weekly Daily Percentage Price Signals Oscillator Metatrader 4 Forex Indicator

The Weekly Daily Percentage Price Signals Oscillator indicator for Metatrader 4 follows the short-term and longer-term trend in a separate MT4 window below the main chart.

The indicator can be used in two ways:

Trade the longer-term trend, we will be focusing on the red indicator line.

Trade “buy on dips” or “sell on rallies” in the direction of the longer-term trend, we will be focusing on the red and green indicator lines.

The red indicator line aligned above the zero level suggests a bullish trend and this is the moment to buy the pair.

Conversely, the red line aligned below the zero level suggests a bearish trend and this is the moment to sell the pair.

The indicator default ATR settings can be fully modified to whatever settings you need directly from the indicator’s inputs tab.

The indicator works fine for all kind of trading styles.

Free Download

Download the weekly-daily-percentage-price-oscillator.ex4” MT4 indicator

Example Chart

The EUR/USD H1 chart below displays the Weekly Daily Percentage Price Signals Oscillator forex indicator in action.

Basic Trading Signals

Signals from the Weekly Daily Percentage Price Signals Oscillator MT4 forex indicator are easy to interpret and goes as follows:

1. Longer-term trades:

Buy Signal: Initiate a buy trade when the red indicator line crosses back above the zero level from below.

Sell Signal: Initiate a sell trade when the red indicator line crosses back below the zero level from above.

Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.

2. Buy on dips or sell on rallies system (good for scalping & day trading):

Buy Signal: Initiate a buy trade when the red indicator line is aligned above the zero level and the green line crosses back above the zero level from below.

Sell Signal: Initiate a sell trade when the red indicator line is aligned below the zero level and the green line crosses back below the zero level from above.

Download

Download the weekly-daily-percentage-price-oscillator.ex4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern

Customization options: Variable (atr_range, ima_range, atr_factor, Mode, DeltaPrice) Colors, width & Style.

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

Type: Trend

Installation

Copy and paste the weekly-daily-percentage-price-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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