The Color OSMA Indicator is a useful and popular Forex indicator for the MT4 platform. It is a free indicator that is easy to use and helps traders identify potential trading opportunities. The indicator is based on the oscillator of moving averages and provides a visual representation of the trend direction. It is designed to help traders identify potential entry and exit points in the market. The Color OSMA Indicator is based on two moving averages and uses the difference between the two to generate a signal. The indicator changes color when the difference between the two moving averages is above or below a certain threshold. When the indicator turns green, it indicates that the trend is bullish and when it turns red, it indicates that the trend is bearish. This helps traders identify potential entry and exit points in the market. Overall, the Color OSMA Indicator is a useful and popular Forex indicator for the MT4 platform. It is easy to use and helps traders identify potential entry and exit points in the market. It also helps traders identify potential overbought and oversold conditions in the market. The indicator is free and can be downloaded from the MT4 platform.
MT4
Color Osma
The Color OSMA Forex Indicator is a popular and free MT4 indicator used by many Forex traders. It has two lines, one for the trend direction and one for the momentum. The trend line is based on the moving average and the momentum line is based on the difference between the moving average and the current price. The indicator is available for free and is a popular choice among Forex traders.
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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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