Klinger Oscillator (KV)
Info
The Klinger Oscillator (KV) is a Indicator for MetaTrader 4 that this oscillator is based on turnovers and was developed by stephen klinger. The oscillator is calculated in seven steps:1.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Klinger Oscillator (KV)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This oscillator is based on turnovers and was developed by Stephen Klinger.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: Zero Lag Stochastic Oscillator (True) - another powerful indicator for MetaTrader 4 traders.
This oscillator is based on turnovers and was developed by Stephen Klinger.Also recommended: stochastic oscillator - similar indicator with strong performance on MetaTrader 4.
The oscillator is calculated in seven steps:
1. Calculate the average typical price: (H+L+C)/3
2. If the current typical price is greater than the average typical price of the previous bar, the turnover of the current bar gets a 'plus' sign.
3. If the current typical price is less than the average typical price of the previous bar, the turnover of the current bar gets a 'minus' sign.
4. Calculate the 34-period EMA of the turnover obtained in steps 2 or 3.
5. Calculate the 55-period EMA of the turnover obtained in steps 2 or 3.
6. Subtract the 34-period EMA from the 55-period EMA and plot the result on the chart as a histogram.
7. Calculate the EMA of the difference obtained in step 6 and plot it on the chart.
You may also like: moving average of oscillator (osma) - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 silver
#property indicator_color2 red
extern int fastema = 34;
extern int slowema = 55;
extern int signalema = 13;
double mainbuffer[];.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.