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The EW oscillator is an indicator for the MetaTrader 4 based on mathematical calculations on the price chart.
Distinctive features
- Generates minimum false signals.
- Excellent for identifying trend reversals.
- Perfect for scalping.
- Simple and easy indicator configuration.
- Suitable for working on the smaller timeframes (up to H4).
- Works on any financial instrument.
Recommended symbols
EURUSD, EURGBP, USDCHF, AUDNZD, AUDCAD, GOLD.
Recommendations on usage
The buy signal is formed when the level 20 is crossed upwards.
The sell signal is formed when the level 80 is crossed downwards.
Indicator Parameters
- ColorEW – indicator line color.
- PeriodEW– indicator calculation period.
- Alert – enable/disable Alert. If true – enabled, false – disabled.
- Type of signal – the setting is responsible for the signal to be sent by Alert. Type of signal can be equal to current bar (sending an alert when signal appears on the current bar) or last bar (when a signal occurred on the past bar).
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