Summary of ♦️OsMA Divergence Indicator for MetaTrader 4/5–[TFlab]

The video explains the OSMA Divergence Indicator available for MetaTrader 4 and 5, which can be downloaded from the Trading Finder website. This indicator helps traders identify divergences between price movements and the OSMA indicator (a type of MACD), useful for spotting potential tops and bottoms in the market.

Main Features and Functionalities:

• The indicator runs in an oscillator window below the price chart.
• It detects divergences between price and OSMA, aiding technical analysis.

Key Settings and Customization Options:

• MACD Parameters:
  • Fast moving average period
  • Slow moving average period
  • MACD signal line period
• Price Basis Selection: Choose from close, open, high, low, medium, typical, or weighted prices.
• Divergence Validation: Number of candles to the left and right of divergence points (recommended to keep default).
• Sensitivity Levels: Adjustable for tops and bottoms; higher sensitivity means fewer but more reliable signals, lower sensitivity gives earlier but less certain signals.
• Display Options: Enable or disable divergence lines on both oscillator and price chart.
• Color Customization: Users can change colors of divergence lines to their preference.
• Indicator Name: The name of the indicator can be customized.

Methodology to Use the Indicator:

• Download and install the indicator on MetaTrader 4/5.
• Drag the indicator onto the chart to activate it.
• Adjust settings based on trading preferences (periods, price basis, sensitivity).
• Analyze divergence signals on the oscillator and price chart to identify potential market reversals.

Presenter/Source:

• The tutorial is presented by TFlab and is available on the Trading Finder website.

Category

Business and Finance

Video