fo m
Info
The fo m is a Indicator for MetaTrader 5 that freedom of movement oscillator is a price movement indicator with the trend component excluded from its chart. it has two configurable parameters:period - calculation periodmethod - calculation methodcalculation:fom = (vbym - avf) / sdfwhere:sdf - stddev(vbym, period)avf - ma(vbym, period, method)vbym = vol / movevol = 1 + 9*(rv-minv) / abs(denomv)denomv = maxv - minvmaxv, minv - maximum and minimum rv values in the period rangemove = 1 + 9*(amove-minm) / abs(denomm)denomm = maxm-minm,maxm, minm - maximum and minimum amove values in the period rangeamove = abs(close-prevclose) / prevcloserv = (volume-av) / sdsd - stddev(volume, period)av - ma(volume, period, method).
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 fo m
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
freedom of movement oscillator is a price movement indicator with the trend component excluded from its chart.
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: Trend Regime Inspector for Meta Trader 5 - another powerful indicator for MetaTrader 5 traders.
freedom of movement oscillator is a price movement indicator with the trend component excluded from its chart.
Also recommended: Stochastic Reversal Signal - similar indicator with strong performance on MetaTrader 5.
it has two configurable parameters:period
- calculation period
method
- calculation method
calculation:
fom = (vbym - avf) / sdf
where:
sdf - stddev(vbym, period)avf - ma(vbym, period, method)vbym = vol / movevol = 1 + 9*(rv-minv) / abs(denomv)denomv = maxv - minvmaxv, minv - maximum and minimum rv values in the period rangemove = 1 + 9*(amove-minm) / abs(denomm)denomm = maxm-minm,maxm, minm - maximum and minimum amove values in the period rangeamove = abs(close-prevclose) / prevcloserv = (volume-av) / sdsd - stddev(volume, period)av - ma(volume, period, method)
You may also like: Quantora Account Health Monitor MT5: Professional Account Health and Risk Monitoring - 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.