Introducing the Derivative Oscillator forex trading Indicator. This is a very simple indicator which works well when used with other indicators. Just like most oscillators, this indicator will simply tell you the momentum of the market. You can use the Derivative Oscillator to trade all kinds of market conditions but the ultimate thing to do is choosing trending markets so that you can increase your probability of success.
Always be alert because this indicator can give you many false signals, it’s recommended that you combine it with other indicators for more accurate trade decisions. The best benefit of using the Derivative Oscillator is that you can use it on any timeframe and on any currency pair.
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Install the Derivative Oscillator, your chart should look like this;
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The Derivative Oscillator contains a histogram chart that fluctuates in the positive and negative territory. When the histogram is in the positive territory, it indicates bullish market conditions and when the histogram is in the negative territory, it indicates bearish market conditions.
Please note though, using only this indicator for buy and sell signals is not such a good idea because you are going to get too many false signals, it works better when used with other indicators.
Conditions for buying Using Derivative Oscillator.
- The market should be up trending.
- The Derivative Oscillator should rise to positive territory from negative territory.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the Derivative Oscillator dives into the negative territory from positive territory.
Conditions for selling Using Derivative Oscillator.
- The market should be down trending.
- The Derivative Oscillator should fall into negative territory from positive territory.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the Derivative Oscillator rises into the positive territory from negative
Download Free Forex Derivative Oscillator Indicator
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