Welcome back, fellow traders! Today, we’re diving into the OC Momentum indicator, a handy tool for those of us using MetaTrader 4. If you're looking to enhance your trading game, this might just be what you need.
Latest Update: As of May 5, 2020, we’ve uploaded a new version that you won’t want to miss!
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Description:
The OC Momentum oscillator is designed to leverage the Open and Close prices to calculate its value. The primary variable, n, comes with a default setting of 3, but feel free to tweak it to match your trading style.
The histogram it generates makes it a breeze to spot potential trade entries.
Using OC Momentum in Trending Markets:
When you’re in a trending market, the points 1 and 2 create a trendline. The entry signal is triggered when the indicator curve crosses the zero line, followed by the formation of the first histogram bar in the appropriate color. Keep an eye on points 3, 4, and 5 for possible entry points.
But remember, no trend lasts forever—stay sharp!
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