The RSI OSMA Histogram Indicator is a useful tool for forex traders using the MT4 platform. This popular indicator is free to download and can be easily integrated into your trading strategy. The indicator combines the Relative Strength Index (RSI) and the Moving Average of Oscillator (OSMA) to create a histogram that helps traders identify overbought or oversold conditions in the market. When the histogram moves above the zero line, it indicates a bullish trend, while a move below the zero line suggests a bearish trend. Traders can use the RSI OSMA Histogram Indicator to confirm buy or sell signals generated by other indicators or to identify potential reversals in the market. It can be a valuable tool for both beginner and experienced traders looking to improve their trading performance.
MT4
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RSI Osma Histogram
RSI OSMA Histogram indicator is a popular and useful forex indicator for MT4 that is available for free. It combines the RSI and OSMA indicators to provide signals for market momentum and trend direction. Traders can use this indicator to identify potential entry and exit points in the market.
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Category: Signal
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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