Forex OBOS Scanner MT4 Indicator

Forex OBOS Scanner MT4 Indicator:

About the Forex OBOS Scanner MT4 Indicator

Overbought Oversold Scanner is a multi symbol multi timeframe Stochastic / RSI dashboard that helps traders to monitor, and identify potential price exhaustion from one chart.
This panel scans RSI / Stochastic indicators in 28 configurable instruments and 9 timeframes for price entering or leaving overbought and oversold levels.

Overbought Oversold scanner features:

  • Customizable scan of RSI or Stochastic indicators.
  • Option to set different indicators, or same indicator with different settings, in the left and right symbols of the panel. (For example RSI scanner for the right side symbols and Stochastic scanner for left side symbols of the panel.)
  • Quick review of signals on the same chart by clicking on signal buttons.
  • Easy setup and arrange of symbols in any order with any instrument that your broker provides.
  • Popup, email, and phone notification alerts for selected symbols and timeframes.

Main Settings:

  • In the indicator settings window, set indicators for the left and right side of the panel between RSI or Stochastic indicators.
  • Fill the settings of the selected indicator for the left and right side of the dashboard such as period, applied price, signal level, etc.

Other Settings:

These settings are the same for both sides of the dashboard:

  • Scan for entering or leaving OBOS level: Set the scan method for price entering the overbought/oversold levels or breaking out of the levels.
  • Signal after candle close: If true dashboard waits until the close of the candle then checks the indicator value.
  • Popup Alert: To enable MT4 alert window informing Overbought/Oversold on a symbol and timeframe.

Select symbols and timeframes that you want to get alert for them by ticking their checkboxes on the panel.

  • Phone Notification: To receive indicator alerts on the cell phone. For this to work you must enable and fill the MetaTrader push notification settings from the Notifications tab on the MetaTrader options dialog (ctrl+o).
  • Email Alert: To receive indicator alerts via email. For this to work you must enable and fill the MetaTrader email settings from the Email tab on the MetaTrader options dialog (ctrl+o).
  • Panel Font Size: You can change the font size of labels and buttons info with this.
  • Panel Scale: Choose between 4 scales to adjust the dashboard size to your screen.

Some Notes:

  1. In Stochastic scan, the main line of the indicator is used for checking price overbought/oversold levels, so the “%D Period” and “MA method” settings of the Stochastic are irrelevant here and not included in the indicator settings.
  2. If you want to monitor more than 28 instruments you can load the indicator on another chart and set different symbols for it.
  3. The symbols that you want to add to the dashboard must be visible in the MetaTrader market watch window. The first time you run the indicator or load a new symbol in the dashboard it might take a few seconds to update its data and show signals.

Test results:

Forex OBOS Scanner MT4 Indicator

Copy and paste the file 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)

Other forex trading Expert Advisors

Leave a Comment