5-34-5 Forex Signals Oscillator Indicator For MT4

The 5-34-5 Forex signals oscillator is a completely free Metatrader 4 indicator that can be deployed for the exact confirmation of trade entries and exits.

The indicator works pretty well on all time frames and MT4 symbols.

This trading oscillator appears as light-blue and red signals lines that oscillates around the zero horizontal level within its indicator window.

Here’s how you can find the best buy and sell trends with the 5-34-5 Forex signals oscillator indicator:

  • Light-blue & red lines of the 5-34-5 Forex signals oscillator indicator rise back above the zero-horizontal level for a buy trend.
  • Light-blue & red lines of the 5-34-5 Forex signals oscillator indicator fall back below the zero-horizontal level for a sell trend.

Download This MT4 Forex Indicator Free

Download the “5-34-5-oscillator.ex4” Metatrader 4 indicator

5345 Forex Signals Oscillator Indicator Chart

Below is an example of how the indicator should appear when added onto the Metatrader 4 chart.

Traders are free to adapt this indicator on a cross section of currency pairs and time frames of their preference.

Finding Buy and Sell Triggers With 5345 Forex Signals Oscillator Indicator

Below is an example of how to buy and sell forex pairs with this technical indicator:

Buy Trigger: Open buy trade order when the light blue and red lines of the indicator surge above the zero-horizontal level.

Place stop loss below previous swing low support, or use your own stop loss placement method.

Close the buy trade for a reward to risk 1.5:1 ratio or better, or use your own preferred take profit method.

Alternatively, close the buy trade for a fixed take profit target of 10 pips on the 1-Minute chart.

Maintain a larger profit outlook on the higher time frames, for example, 60 pips on the 30-minute chart.

Sell Trigger: Open sell trade order when the light blue and red lines of the indicator falls back below the zero-horizontal level.

Place stop loss above previous swing high resistance, or use your own stop loss placement method.

Close the sell trade for a reward to risk 1.5:1 ratio or better, or use your own preferred take profit method.

Alternatively, close the sell trade for a fixed take profit target of 20 pips on the 5-minute chart.

Maintain a larger profit outlook on the higher time frames, for example, 120 pips on the 4 hour chart.

Download This Forex Indicator Now

Download the “5-34-5-oscillator.ex4” MT4 indicator

Adjustable Parameters

Colors, style.

Usage

The indicator can be used as a stand-alone signals indicator.

It can also be combined with:

Trading oscillators (MACD, RSI, RVI…)

Trend indicators (Ichimoku Kinko Hyo, EMA, ADX…)

Price action methods and techniques

More Info About This Indicator

Tradable Currency pairs: Any

Trading Platform: MT4

Time frames: M1, M5, M15, M30, H1, H4, D1, W1

Indicator Type: oscillator

Installation

Copy and paste the indicator in the MT4 indicators data folder (click on ‘File > Open Data Folder’).

Right click within the MT4 terminal Navigator window to refresh or restart the terminal and add the indicator to any chart.

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