MT4 Sentiment Ratio Oscillator Download – Free | Forex Indicators Download – MetaTrader 4 Resources – MetaTrader 4 Resources

The Sentiment Ratio Oscillator is used to measure market trends and identify overbought and oversold areas.

This indicator, using exponential moving averages (EMA) and price fluctuations, analyzes traders' collective sentiment towards a specific symbol and displays it as an oscillating curve beneath the price chart.

Sentiment Ratio Oscillator Specification Sheet

The table below contains the specifications of the Sentiment Ratio Oscillator:

Sentiment Ratio Oscillator at a Glance

The signals of the Sentiment Ratio Oscillator are based on identifying overbought and oversold areas.

When the curve reaches these areas, it indicates a trend reversal, and subsequently, the intersection of the lines is considered a suitable trading entry point.

Buy Setup

On the 1-hour chart of the Solana (SOL) cryptocurrency , the oscillation curve has reached oversold territory and the trend has reversed.

In this case, the upward intersection of the curve with the gray line is considered the entry point for a buy trade.

Sell ​​Setup

Looking at the USD/CHF chart, the price reversed downwards after reaching the overbought zone.

In this case, the intersection of the lines can be considered a sell setup.

Sentiment Ratio Oscillator Settings

The settings for the Sentiment Ratio Oscillator are as follows:

• Time frame: active time range for indicator calculations
• Sentiment Zone Period: Number of candles used to calculate market sentiment zones
• Sentiment Zone MA Method: Moving Average Type of Sentiment Zone
• Price applied: Calculate base price
• Price filter period: number of candles used for price filtering
• Price Filtering Method: Moving Average Type for Price Filtering
• Levels period: Number of candles used for sensitivity level calculations
• Levels percent: Percentage of overbought and oversold areas
• Average period: the average number of candles on the main indicator line
• Average Types of Sentiment Zone Signal Lines: Average Types of Sentiment Zone Signal Lines
• Color change on: Criteria for indicating line color changes
• Turn alerts on: alert activation options
• Alerts on current: current candle alert
• Alerts message: message reminder options
• Alerts sound: Sound alert option
• Alerts email: Email alert option
• Interpolate: Continuous oscillation curve display
• Notification: notification sending options
• MESSAGE_TIMEOUT: Time interval between alert messages
• MESSAGE_SUBJECT: The subject of the alert message

Conclusion

The Sentiment Ratio Oscillator uses moving averages and percentage levels to identify overbought and oversold areas.

Additionally, the intersection of the oscillator curve with the gray line (representing market sentiment) is often considered a suitable trading entry point.