Crude Oil Indicator for MT5
- Indicatori
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Mohammad Taher Halimi Tabrizi
I have been studied financial markets in the university and programmed successful experts and scripts for MT4 & MT5 for many years.
I have done more than 500 jobs and have 5 stars out of 5 where you can read all of previous clients review in below link: - Versione: 1.0
- Attivazioni: 5
CRUDE OIL BUY/SELL (3 Min)
Technical Overview
The CRUDE OIL BUY/SELL indicator is designed for short-term traders focusing on crude oil price movements.
It identifies high-probability buying and selling opportunities based on a combination of RSI levels, SMA trend positioning, and candle structure analysis.
This tool is particularly effective on the 3-minute timeframe, providing clear visual signals and alerts for both momentum continuation and potential reversals.
How It Works
The indicator integrates three key components:
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RSI Analysis: Detects overbought and oversold zones to measure market momentum.
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SMA Filter: Confirms whether price is trading above or below its short-term average trend.
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Candle Strength Logic: Evaluates the relationship between candle body and range to validate the momentum behind a move.
A Buy (B) label appears when upward conditions align, while a Sell (S) label appears when downward pressure is confirmed.
Additional reversal markers highlight potential turning points when RSI and price patterns indicate exhaustion.
Features
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Automatic Buy and Sell labeling on chart
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Reversal detection and alert system
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Adjustable RSI and SMA parameters
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Dynamic bar coloring based on market state
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Alert conditions for Buy, Sell, and Reversal signals
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Works across any symbol; optimized for crude oil instruments
Recommended Settings
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Timeframe: 3 Minutes
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Instrument: Crude Oil (CL, USOIL, or Brent)
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Parameters:
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RSI Length = 14
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SMA Length = 70
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RSI High = 80
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RSI Low = 20
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These settings are intended for scalping and short-term trading during active market hours.
Trading Guidelines
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Use the indicator for confirmation alongside market structure or volume analysis.
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Avoid signals during low-volatility periods.
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Combine with proper risk management practices and avoid using it as a standalone trading system.
Alerts
The script includes alert conditions for:
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Buy signals
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Sell signals
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Upward and downward reversals
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General direction change alerts
Summary
The CRUDE OIL BUY/SELL (3 Min) indicator offers a structured approach to identifying short-term trading opportunities in oil markets.
It combines RSI, SMA, and price behavior analysis to deliver actionable, visually clear insights for disciplined intraday decision-making.

