MT5 Long Oscillator BMI Download – Free | Forex Indicators Download – MetaTrader 5 Resource

The BMI bull indicator, known as a comprehensive tool for technical analysis , is designed by integrating several widely used indicators.
The indicators include Moving Average Oscillator, MACD, Bollinger Bands , Stochastic, each indicator is displayed in a different color.

BMI Long Oscillator Spec Sheet

The specifications of the BMI bull indicator are as follows:

BMI long-term indicators at a glance

The BMI Bull Oscillator displays its components using different lines and colors on the chart:

• Blue Line: Oscillator Moving Average (OSMA)
• White Line: Moving Average Convergence and Divergence (MACD)
• Pink Line: Signal Line
• Orange Band: Bollinger Band is on track
• Green Band: Bollinger Band is off track
• Yellow Line: Zero line as trend reference
• Colored Histogram: Shows trend strength and direction

bullish trend conditions

According to the Bitcoin (BTC) 15-minute chart, the signal line as well as the MACD OSMA line is above the zero level.
This situation is often interpreted as a sign of a strengthening bullish trend and a suitable buy signal.

Bearish trend conditions

According to the 30-minute chart of EUR/GBP, the signal line is crossing downwards and the OSMA MACD line is starting from the zero line to show bearish pressure.
This situation can also be seen as a sign of the beginning of a downtrend.

BMI Long Line Oscillator Settings

The settings for the BMI long indicator are as follows:

• FastMAPeriod: fast moving average period
• SlowMAPeriod: slow moving average period
• SignalMAPeriod: Signal line period
• MAmethod: moving average calculation method
• MAprice: The price type used in moving averages
• MAprecision: moving average calculation accuracy
• OsMAClr: OSMA line color
• MACDClr: MACD line color
• SIGNClr: Signal line color
• UBBClr: Bollinger Band upper track color
• LBBClr: Bollinger Band lower track color
• BBonSignal: Bollinger Bands signal activation
• BBonMACDline: MACD line Bollinger Band activation
• BBperiod: Bollinger Band calculation period
• BBdeviation: Bollinger Band standard deviation
• BBshift: Bollinger Bands chart movement
• BBprecision: Bollinger Band calculation accuracy
• Alpha_adjuster1: the first alpha adjustment factor
• Alpha_adjuster2: The second alpha adjustment factor
• MACD_Multiplier: MACD multiplier
• UseStochFilter: Use of random filters
• Kperiod: random K period
• Dperiod: Random D period
• Slowing: Random deceleration value
• ShowZeroLine: Zero line display
• ZeroLineColor: Zero line color
• ZeroLineStyle: Zero line style
• ZeroLineWidth: Zero line width

Conclusion

The BMI long oscillator uses colored histograms and auxiliary lines to visualize market trend strength and direction.
The most important component is the zero line, and a line crossover above or below the zero line is considered a buy or sell signal.
Additionally, indicator settings allow modification of colors and periods to match the trader's personal strategy.