BeST Oscillators Collection
BeST Oscillators Collection is a Composite MT4 Indicator including the Chaikin,Chande and TRIX Oscillators which by default are contained in MT5 but not in MT4 platform. It also provides the option of displaying or not a Mov. Avg. as a Signal Line and the resulting Signals as Arrows in a Normal (all arrows) or in a Reverse Mode (without showing up any resulting successive and of same type arrows).
Analytically for each one of the specific Oscillators:
- The Chaikin Oscillator (CHO) is used to estimate the money flow measuring price action to the smart money flow in and out of the underlying security. There are no fixed ranges for the CHO and so when it moves in the trend direction is more reliable. It can also be used for spoting divergences in strongly trending markets.
- The Chande Momentum Oscillator (CMO) ranges between the limits of -100 and +100 while overbought area is set at 50 and oversold at -50. Buy and Sell signals can be generated by CMO crosses of its 10-bars SMA and also by the divergences between CMO and the underlying security's price.
- The TRIX Oscillator (TRIX) is used to identify oversold and overbought markets but also as a momentum indicator. TRIX oscillates around a zero line and when used as an oscillator, a positive value indicates an overbought market while a negative one indicates an oversold market. As a momentum indicator, a positive value suggests momentum is increasing while a negative value suggests momentum is decreasing.
- Select Oscillator Type for selecting which one of the Oscillators we want to apear.
- Insert the Index-Number of Indicator's Separate Window for putting the index of the separate window we use for the indicator in order to work correctly the Level lines of the Oscillators.
CHO Settings To select the parameters we want for the Chaikin Oscillator (CHO).
CMO Settings To select the parameters we want for the Chande Momentum Oscillator (CMO).
TRIX Settings To select the parameters we want for the TRIX Oscillator (TRIX).
- Select to Show or Not Arrows for selecting to Show or Not the Buy and Sell Signals’ Arrows based on the crosses between the Oscillator and it’s Signal Line.
- Select if you want or not the Arrows in the Reverse Mode for selecting if we want the Arrows to apear in a Normal (all arrows) or in a Reverse Mode (without showing up any resulting successive and of same type arrows).
- Select the distance between CHO and Arrows for a better appearance.
- Select the distance between CMO and Arrows for a better appearance.
- Select the distance between TRIX and Arrows for a better appearance.
- Select the size of Arrows for selecting the desirable Arrows width.
- Select Level_1 Value for all Oscillators which by default is the Zero-Line.
For EA Developers
- CHO Buy Arrow: Buffer=7
- CHO Sell Arrow: Buffer=8
- CMO Buy Arrow: Buffer=11
- CMO Sell Arrow: Buffer=12
- TRIX Buy Arrow: Buffer=3
- TRIX Sell Arrow: Buffer=4