"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.
Optimized and backtested on the USDJPY hourly chart. The test period is from December 1, 2015, to December 1, 2019. Set file included with the EA.
- EmuovingAverageOfOscilliator (OsMA)
- simple moving average line (SMA)
- ATR (used for profit)
This EA will put a buy order in the case where the following conditions are met (sell order is the reverse).
- OsMA, which was less than 0, exceeded 0
- The closing price is above SMA
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.
basic parameters: indicator parameters:
- UseATRStop - Defines whether the EA uses ATRStop or not. If true, the EA sets the stop-loss based on the ATR.
- ATR - Multiplier of ATRStop.
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
Tip: Can’t open the downloaded archive file (ZIP or RAR)?
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.