JuiceZ – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • Real author: Perky_z

    An indicator of financial asset volatility using the OSMA oscillator.

    Indicator formula:

    JuiceZ = ( Abs(OSMA) / Point ) – Level

    , where:

    • Abs(OSMA) – absolute value of the OSMA indicator;
    • Point – point value in the price chart units;
    • Level – the price changed level specified in the inputs, which should be considered as flat (all OSMA values below this level make the indicator negative).

    The trend is believed to be strong, if the indicator above zero is colored in light green. In this situation, if other indicators provide a trade signal, a position can be opened.

    Fig1. The JuiceZ indicator

    Fig1. The JuiceZ indicator

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window