🔥 BMI Long Oscillator for MT4/5 – Free – [TradingFinder]

BMI Long Oscillator Overview

The video explains the BMI Long Oscillator, a free trading indicator available for MetaTrader 4 and MetaTrader 5 platforms via the TradingFinder website. This oscillator helps traders identify bullish and bearish trends as well as entry and exit points by combining multiple technical indicators.

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Key Instruments & Indicators

• BMI Long Oscillator (custom indicator)
• SMA (Simple Moving Average)
• MACD (Moving Average Convergence Divergence)
• OSMA (Oscillator of MACD)
• Bollinger Bands
• Stochastic Oscillator

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How the Indicator Works

The oscillator window appears below the price chart and integrates several components:

• Histogram bars: Represent OSMA values.
• White and pink lines: Represent the MACD signal line and MACD line, respectively.
• Orange and green lines: Represent the upper and lower Bollinger Bands.
• Yellow baseline: Separates positive and negative values.

Trend Confirmation

• When histogram values rise above zero, and SMA, MACD, and Bollinger Bands also move above zero, this signals a strong upward trend and a potential buy entry.
• When values decline below zero, it signals a bearish trend and a potential sell entry.
• Bollinger Bands narrowing indicates price compression and a ranging market.
• The transition of bands and MACD lines below zero signals a downward trend.

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Settings & Customization

MACD Settings

• Fast MA period
• Slow MA period
• Signal line period
• MA calculation method (Simple, Exponential, Smoothed, Linear Weighted)
• Price basis (Close, Open, High, Low, Median, Typical, Weighted)
• Decimal precision (default: 5)

Color Customization

• OSMA
• MACD line
• MACD signal line
• Upper and lower Bollinger Bands

Bollinger Bands Settings

• Calculation basis (MACD signal line, MACD line, or average of both)
• Period length
• Deviation
• Shift value
• Decimal precision (default: 3)
• Two adjustable coefficients based on the trading symbol

Additional Parameters

• MACD Coefficient: Default set to 2
• Stochastic Filter:
  • Can be enabled or disabled
  • Parameters: %K period, %D period, slowing factor
  • When enabled, histogram colors change based on bullish (white) or bearish (red) stochastic signals on the MACD line
  • When disabled, calculations are based on the MACD signal line

Zero Line Display

• Can be enabled or disabled
• Customizable color, line style (solid, dash, dot, dash-dot, dash-dot-dot), and thickness

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Use Cases

• Entry signals for long (buy) trades when multiple indicators confirm upward momentum.
• Exit or short (sell) trades when indicators signal trend reversal or downward momentum.
• Identification of ranging markets through Bollinger Bands compression.

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Disclaimers

• No explicit financial advice or disclaimers were stated in the video.
• The indicator is a tool to aid analysis and should be used alongside personal judgment.

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Presenter / Source

The tutorial is provided by TradingFinder, focusing on the BMI Long Oscillator for MT4/MT5 platforms.