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: Price Channel Indicator - 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: Multi-Timeframe Moving Average Indicator (v03) - 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: Multi-Timeframe Relative Strength Index (MTF RSI) Indicator for MT4/MT5 - excellent alternative for indicator users on MetaTrader 5.
⚠ 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.