Chaikin Oscillator Metatrader 4 Forex Indicator
The Chaikin Oscillator Metatrader 4 indicator is a moving average of accumulation/distribution buy/sell signal indicator.
- The accumulation of a forex pair points toan upward trend in price.
- The distribution of a forex pairpoints to a downward trend in price.
The indicator is represented as a dark blue line that oscillates around a zero-horizontal level within its own sub window.
- The default color of the Chaikin Oscillator line is dark bluebut can be modified to suit individual chart preference. While the inclusion of a red horizontal line within the indicator’s sub-window is to allow for easy visualization at the point where the indicator line breaks above/below the zero signal level.
- The Chaikin Oscillator can be used on all timeframe charts. It works for scalpers, day traders and swing
- Divergences within the Chaikin Oscillator indicates a likely change of prices.
Feel free to explore the Chaikin Oscillator indicator’s different parameters and settings to create your own personalized indicator setup.
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Chaikin Oscillator Forex Indicator Chart (EUR/GBP H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Chaikin Oscillator MT4 Indicator
Buy Signal: Go long when the dark blue line of the Chaikin Oscillator breaks above the zero-horizontal level. Plus the blue line of the Alligator indicator crosses below the lime and red lines in a bottom up fashion.
Sell Signal: Go short when the dark blue line of the Chaikin Oscillator breaks below the zero-horizontal level. Plus, the blue line of the Alligator indicator crosses above the lime and red lines in a top downward manner.
Exit buy trade: Close all buy orders if while a bullish trend is running, the dark blue line of the Chaikin Oscillator falls below the 0.00 horizontal level. Else, wait for the lime line of the Alligator indicator to intersect the red line.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the dark blue line of the Chaikin Oscillator surges above the 0.00 horizontal level. Else, wait for the lime line of the Alligator indicator to intersect the red line.
Tips: The Chaikin Oscillator indicator is a well-grounded forex technical indicator.
It shows traders market sessions where selling pressure is increasing, along with sessions of increasing buying pressure.
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Slow Period, fast period, type smooth.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Trend
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.