The SMI OsMA indicator is a popular and useful forex indicator for MT4 that is available for free. It is designed to help traders identify trends and potential reversals in the market by combining the Stochastic Momentum Index (SMI) with the Moving Average of Oscillator (OsMA). The SMI OsMA indicator works by measuring the momentum of price movements and comparing it to the overall trend. When the SMI line crosses above the signal line, it indicates a bullish trend, while a cross below the signal line indicates a bearish trend. The OsMA line helps traders confirm trend direction and momentum strength. To use the SMI OsMA indicator, simply add it to your MT4 chart and adjust the settings to suit your trading style. Look for crossovers and divergence between the SMI and OsMA lines to make informed trading decisions.
MT4
SMI Osma
SMI OSMA Indicator is a useful Forex indicator for MT4 that is popular among traders. It is a free indicator that helps traders identify market trends and momentum. SMI OSMA Indicator combines Stochastic Momentum Index (SMI) and Moving Average of Oscillator (OSMA) to provide clear buy and sell signals. Traders can use it to make informed trading decisions based on market momentum.
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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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