What is Oscillator feature?
- By FXT
- OCT 21, 2022
An oscillator is any object or data that moves back and forth between two points.
In other words, it’s an item that is going to always fall somewhere between point A and point B.
More specifically, an oscillator will usually signal “buy” or “sell” with the only exception being instances when the oscillator is not clear at either end of the buy/sell range.
FXT Marketwatch/Oscillators displays the oscillators’ values in the preferred time frame. Traders can change the settings of the Oscillators on the ‘Settings’ box on the right side.
Traders set up the levels of overbought and oversold levels, so the OB/OS Summary displays the result as described below:
- Overbought summary, when RSI and Stochastics meet the criteria accordingly (e.g. RSI is higher than 70 level and Stochastics is higher than 80 level).
- Oversold summary, when RSI and Stochastics meet the opposite criteria (e.g. RSI is lower than 30 level and Stochastics is lower than 20 level).
- Neutral summary, when one of both Oscillators doesn’t meet the OB or OS criteria.
By clicking on a symbol’s name (as always) the new chart will give you the two indicators as you have set them, for live monitoring. In the MT4, we created a new Indicator in order to show both RSI and Stochastic.
MT4 FXT OBOS Indicator