Simple decycler oscillator Indicator For MT4

Simple decycler oscillator Indicator For MT4

The Simple decycler oscillator Indicator For MT4 is one the best oscillator indicators you may ever come across if you are looking to profit from trend reversal. This indicator allows traders to accurately judge trend reversals with the help of a bi-colour oscillator and one grey oscillator which acts as a midpoint or zero line (if you wish), so whenever the main bi-colour oscillator line crosses over the midpoint line from the up side to the down side, thus changing from blue to red, then it signals a sell trade. The opposite hereof also rings true, whenever the bi-colour oscillation line crosses over the "zero" line of the indicator from the down side to the up side then it signals a buy trade (the oscillator will confirm this for you when it changes in colour from red to blue).

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Trading ideas with the Simple decycler oscillator Indicator For MT4


In the sections below, we shall look at how to use the Simple decycler oscillator Indicator For MT4 to trade i.e. entering and closing trades.

As mentioned in the section above, this indicator is an oscillator indicator that helps traders identify trends in the market.



As visible in the above screenshot, the indicator displays two oscillating lines. One of the lines is silver in colour while the other line changes its colour between DeepSkyBlue and SandyBrown.

If you look closely, you shall note that there is a 0.00 level on the vertical scale of the indicator chart on the right-hand side. It is possible to assume this level since the indicator does not draw a line on the indicator chart on the level. However, the level is not very much important since what you should for is the crossing of the two lines and the change of colour.


Interpreting the Simple decycler oscillator Indicator For MT4


To successfully use the Simple decycler oscillator Indicator For MT4 to trade, you have to first understand how to interpret its signals.

The indicator gives its signals in the form of the two oscillating lines crossing and colour change to one of its oscillating lines. These signals indicate a change of trend in the market.


Bearish trend


The indicator indicates a downtrend when the silver line is above the coloured line. And at the same time, the coloured line changes its colour to SandyBorwn.

Bullish trend


The indicator indicates an upward when the silver line is below the coloured line. And at the same time, the coloured line changes its colour to DeepSkyBlue.





Customizing the Simple decycler oscillator Indicator For MT4


If you just load the oscillator onto the trading chart without changing anything, you will realize that the indicator’s signals are long term; meaning the indicator does not capture short term trend changes in its default setting.

However, that does not mean that if you are a short-term trader you cannot use the indicator. You can still use the indicator! What you need to do is customize its inputs especially the ‘Slow high pass period’ and the ‘Fast high pass period’.

You can customize these periods when loading the indicator to the trading chart or by double-clicking on the oscillating lines of the indicator and clicking on inputs on the popup window.



Changing the Slow high pass period affects the silver line and makes it to oscillate more frequently according to the market trends.



The above screenshot shows a scenario where the ‘Slow high pass period’ has been reduced from the normal 125 to 20. You can see that the silver line becomes more responsive to the trend changes.

However, changing the ‘Slow high pass period’ alone does not help. You will have to also change the ‘Fast high pass period’ that affects the coloured indicator line to have a balance and obtain accurate trading signals.



The above screenshot shows a scenario where both the ‘Slow high pass period’ and ‘Fast high pass period’ have been set 20. You can now see that the two lines have become more responsive to the short-term trend changes.

However, if the two periods are set to the same value, the lines seem to overlap in some areas and it may be difficult to tell which is above the other in such cases. Therefore, it is advisable to maintain a ratio of 1:1.25 between the ‘Fast high pass period’ and the ‘Slow high pass period’. That means the ‘Slow high pass period’ should be 1.25 larger than the ‘Fast high pass period’. That is why in the default setting the Slow high pass period’ is set to 125 while the ‘Fast high pass period’ is set to 100.



The above screenshot shows a scenario where the two periods have been lowered to accommodate the short-term trends and the factor of 1.25 is maintained between the ‘Fast high pass period’ and the Slow high pass period’. The crossing of the two oscillating lines is now more distinctive.


Simple decycler oscillator Indicator For MT4 - Buy Entries


To place a BUY order using the Simple decycler oscillator Indicator For MT4, the trader should wait for the indicator to give a signal of a bullish trend (silver line moves below the DeepSkyBlue line).

It is advisable to avoid placing your buy trade immediately on the candlesticks where the crossing over has occurred but to place the BUY order/trade on the next candlestick after the crossing has occurred especially if the candlestick is bullish.

The buy order should be closed when the silver line moves above the SandyBrown line.

Simple decycler oscillator Indicator For MT4 - Sell Entries


To place a SELL order using the Simple decycler oscillator Indicator For MT4, the trader should wait for the indicator to give a signal of a bullish trend (silver line moves above the SandyBrown line).

It is advisable to avoid placing your sell trade immediately on the candlesticks where the crossing over has occurred but to place the SELL order/trade on the next candlestick after the crossing has occurred especially if the candlestick is bearish.

The Sell order should be closed when the silver line moves below the DeepSkyBlue line.



Simple decycler oscillator Indicator For MT4 - Conclusion


Oscillator indicators are great tools for identifying market trend. They are mainly simple to use especially to forex beginners.

The Simple decycler oscillator Indicator For MT4 makes things even more interesting by providing a colour change that enables traders to quickly identify a change of trend at a glance without having to do a complex interpretation of what the indicator shows.

 

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