Simple Oscillator Showing the Difference Between Two Moving Averages - MetaTrader 5 Script - MT4/MT5 Resource
A simple oscillator. Displays the difference between two exponential moving averages as a colored histogram plotted in a separate window.
There are three tunable parameters:
Figure 1 Default values.
Figure 2 Threshold 50.
Attachment download
📎 ema_angle.mq5 (4.2 KB)
Source: MQL5 #19785
Simple oscillator showing the difference between two moving averages - MetaTrader 5 script usage and screening recommendations
A simple oscillator showing the difference between two moving averages - MetaTrader 5 script belongs to the trading scripts related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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