BMI Long Oscillator MT4
BMI Long Oscillator for MT4
The BMI Long Indicator is a multi-functional analytical tool developed by integrating several popular technical indicators. It combines a Moving Average Oscillator, MACD, Bollinger Bands, and Stochastic, each displayed with unique color coding.
By merging these elements, the indicator delivers refined and accurate signals to help traders identify major market trends.
«Indicator Installation & User Guide»
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BMI Long Oscillator Specifications Table
The specifications of the BMI Long Indicator are as follows:
Category | MACD – Bands & Channels – Oscillator |
Platform | MetaTrader 4 |
Skill Level | Intermediate |
Indicator Type | Reversal – Continuation |
Timeframe | Multi Timeframe |
Trading Style | Scalping – Day Trading – Swing Trading |
Market | All Markets |
BMI Long Indicator at a Glance
The BMI Long Oscillator visualizes its various components using distinctive lines and colors:
• Blue Line: Moving Average Oscillator (OSMA)
• White Line: Moving Average Convergence Divergence (MACD)
• Pink Line: Signal Line
• Orange Band: Upper Bollinger Band
• Green Band: Lower Bollinger Band
• Yellow Line: Zero Line – serves as a reference for trend direction
• Colored Histogram: Indicates the overall strength and direction of the trend
Bullish Trend Conditions
On the EUR/USD 1-hour chart, the Signal Line, OSMA, and MACD lines are all positioned above the Zero Line. This alignment typically suggests bullish momentum, signaling a potential opportunity to enter buy trades.
Bearish Trend Conditions
On the AUD/CHF chart, when the Signal Line, OSMA, and MACD lines fall below the midline, it indicates bearish momentum. Such conditions may serve as an early alert for the possible start of a downtrend.
BMI Long Oscillator Settings
The adjustable parameters of the BMI Long Indicator are as follows:
• FastMAPeriod: Fast moving average period
• SlowMAPeriod: Slow moving average period
• SignalMAPeriod: Signal line period
• MAmethod: Method used to calculate the moving average
• MAprice: Type of price applied in the moving average
• MAprecision: Precision level of moving average calculation
• OsMAClr: Color of OSMA line
• MACDClr: Color of MACD line
• SIGNClr: Color of Signal line
• UBBClr: Upper Bollinger Band color
• LBBClr: Lower Bollinger Band color
• BBonSignal: Activates Bollinger Band signal
• BBonMACDline: Enables Bollinger Band on MACD line
• BBperiod: Bollinger Band calculation period
• BBdeviation: Bollinger Band standard deviation
• BBshift: Shift applied to Bollinger Band on the chart
• BBprecision: Bollinger Band calculation precision
• Alpha_adjuster1: First alpha adjustment value
• Alpha_adjuster2: Second alpha adjustment value
• MACD_Multiplier: Multiplier value used in MACD
• UseStochFilter: Enables the Stochastic filter
• Kperiod: Stochastic K period
• Dperiod: Stochastic D period
• Slowing: Stochastic slowing parameter
• ShowZeroLine: Option to display the zero line
• ZeroLineColor: Color of the zero line
• ZeroLineStyle: Style of the zero line
• ZeroLineWidth: Thickness of the zero line
Conclusion
The BMI Long Oscillator effectively visualizes market trend direction and momentum using a colored histogram along with multiple analytical lines.
The Zero Line acts as the key trend reference point — when lines cross above it, it typically generates a buy signal; when they fall below it, a sell signal is indicated.Additionally, users can customize the indicator’s colors and calculation periods to better align with their personal trading preferences and strategies.