The Elliott Wave Buy/Sell Forex Oscillator For MT4 is built on the Elliott Wave principle and appears as an oscillator on the chart.
The Elliott Wave oscillator provides powerful buy and sell signals based on the different Elliott Waves.
The indicator oscillates above and below the 0.00 midpoint level for trend direction.
In fact, you don’t need to understand how the complex Elliott Wave principle works, the indicator will do the hard work for you.
Just load the Elliott Wave Buy/Sell Forex Oscillator indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- The Elliott Wave trend is considered bullish above the 0.00 midpoint level.
- The Elliott Wave trend is considered bearish below the 0.00 midpoint level.
- Works on any pair and time frame.
- Utilize for scalping, day trading and swing trading.
Feel free to explore the Elliott Wave Buy/Sell Forex Oscillator indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “Elliott_Wave_Oscillator.ex4” Metatrader 4 indicator
Indicator Example Chart (AUD/JPY 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 Elliott Wave Buy/Sell Forex Oscillator MT4 Indicator
Buy Signal: Go long when the Elliott Wave Buy/Sell Forex Oscillator gray trend bar crosses above the 0.00 midpoint level from below.
Place your stop loss below the previous swing low price level, or use your own favorite stop loss method.
Exit the buy position when a sell signal appears on the chart, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed profit target of your preference.
Sell Signal: Go short when the Elliott Wave Buy/Sell Forex Oscillator gray trend bar crosses below the 0.00 midpoint level from above.
Place your stop loss above the previous swing high price level, or use your own favorite stop loss method.
Exit the sell position when a buy signal appears on the chart, or use your own favorite take profit method.
Alternatively, close the sell trade for a fixed profit target of your preference.
Download This Forex Indicator Now
Download the “Elliott_Wave_Oscillator.ex4” MT4 indicator
Adjustable Parameters
EWO period 1, EWO period 2, colors, width, style.
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.
Then restart the MT4 terminal and attach it to any chart.
