der o s c
Info
The der o s c is a Indicator for MetaTrader 5 that the derivative oscillator indicator by constance brown was published in her book "technical analysis for the trading professional"the indicator is a twice exponentially smoothed rsi with the default parameters of 5 and 3. then a signal line is formed by simple smoothing of the resulting 2ersi with the period of 9.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use der o s c
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
the derivative oscillator indicator by constance brown was published in her book "technical analysis for the trading professional"the indicator is a twice exponentially smoothed rsi with the default parameters of 5 and 3.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Account Health Monitor MT5: Professional Account Health and Risk Monitoring - another powerful indicator for MetaTrader 5 traders.
Also recommended: Quantora Trading Session Monitor MT5: Professional Market Session and Activity Analysis - similar indicator with strong performance on MetaTrader 5.
the derivative oscillator indicator by constance brown was published in her book "technical analysis for the trading professional"the indicator is a twice exponentially smoothed rsi with the default parameters of 5 and 3.then a signal line is formed by simple smoothing of the resulting 2ersi with the period of 9.the derived histogram is calculated as a difference between 2ersi and the signal line
there are five inputs:
rsi period
- period of rsi
first ema period
- the period of the first smoothing ema
second ema period
- the period of the second smoothing ema
sma period
- signal line smoothing period
applied price
price used for calculations
calculation:
where:
You may also like: Quantora Symbol Information Dashboard MT5 - Professional Symbol and Trading Specifications Panel - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ 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.