Strength oscillator Forex MT5 Indicator


You can now download the Strength oscillator Forex MT5 Indicator for free on the AtoZ Markets indicators gallery.

The indicator specifies the point of a daily range the price is located in. Based on the information, traders can assume further price movement and adjust their strategy accordingly.

It has four inputs:

  • Calculating mode – calculation method
    • HLC – by High, Low and Close prices
    • RSI – RSI based on HLC
  • RSI period – RSI calculation period
  • Overbought – overbought level
  • Oversold – oversold level

The calculation is as follows:

If Calculation mode = HLC, Internal Strength = Data
If Calculation mode = RSI, Internal Strength = RSI (Data,RSI period)

where:

Data = (Close – Low[i]) / HL HL = High – Low

Timeframe: any

Currency Pairs: any

Trading Session: any

How to download and install an indicator?

In order to install the indicator on your MT5 platform, you need to follow these steps:

  1. Click on “Download Indicator” button located at the bottom of the screen.
  2. Save the file to your computer.
  3. Extract and move the files into MT5>Indicator folder of the MetaTrader5 software file directory.
  4. Restart your Metatrader platform.
  5. Navigate to “Indicators.”
  6. And select the “Strength oscillator Forex MT5 Indicator” template to apply it on the chart.

Note: This indicator was developed by Jack. AtoZ Markets does not carry any copyrights over this trading tool.

 

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