SMI Ergodic Oscillator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The SMI Ergodic Oscillator indicator displays the True Strength Index and its exponentially smoothed signal line.
It has three tunable parameters:
The ergodic oscillator gives the following signal related to zero-scale crossing:
Finding the oscillator line in the area below the zero line for a long time and then crossing it from bottom to top indicates the possibility of opening a long position;
Likewise, when the oscillator stays above the zero level for a long period of time and then crosses the zero level from top to bottom, it indicates a favorable time to open a short position.
Attachment download
📎 smiergodicoscillator.mq5 (5.83 KB)
Source: MQL5 #49404
SMI Ergodic Oscillator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
SMI Ergodic Oscillator - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator 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 on titles or short-term profit descriptions.
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