Forex Oscillator Predictor MT4 Indicator

Forex Oscillator Predictor MT4 Indicator:

About the Forex Oscillator Predictor MT4 Indicator

Very special indicator of Joe Dinapoli which is a derivative  of a Detrended Oscillator. Through a set of parametric equations, a predicting oscillator is created that forecasts, one period ahead of time, overbought and oversold conditions.

The resulting predictor values are expressed as bands on the bar chart, both above and below the market. It may be mistaken as a Bollinger Band but has no resemblance to it whatsoever.

The Predictor bands may be used in a variety of ways to aid in entering and exiting the market.

Although it is recommended for H4 and higher timeframes, it can be particularly useful for intra-day trading.

Inputs

  • Autocalc Lookback – number of bars used to calculate overbought and oversold condition.
  • Autocalc extreme ratio – percent ratio used to set maximum overbought and oversold condition.

Test results:

Forex Oscillator Predictor 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)

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