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).
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    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
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