"MovingAverageOfOscilliator (OsMA)" displays the difference between short-term EMA and long-term EMA in a graph. This indicator is a great way to catch trends, and if you like the trend-following technique, it's an indicator you should definitely study.
The trading robot "OsMA_EA" for MT4 introduced this time is a version of the OsMA indicator converted to an EA.
This EA will put a buy order in the case where the following conditions are met (sell order is the reverse).
This entry logic is only checked when a new candlestick is created.
This EA closes with a pre-set take profit stop loss when you place an order. You can also use ATR stops.
The logic of this EA is clear. First, capture long-term trends with the SMA. After that, the main objective is to aim for the opportunity to get on the trend accurately with the OsMA. These trend-following techniques are easy to work with on any currency pair, but are especially effective for trendy currency pairs such as the Dollar and Yen pairs.
Note: Backtest results may be optimized. Also, the backtest results may differ from the trade results when using a live trading account. Please understand this point before you use the EA.
Download "OsMA_EA" from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
Related education and FX know-how:
Forex Education - Basics:
Free Forex eBooks:
Forex Education - FX Brokers:
Forex Education - Technical Analysis:
Forex Education - Money Management:
Forex Education - Psychology:
Forex Education - Others:
Forex Interbank Trading: