VZO Signal (mtf + alerts) Indicator

Description

The VZO Signal (mtf + alerts) indicator for MT4 combines an oscillator with a moving average to give buy and sell signals. It can be used on multiple timeframes, allowing traders to see different timeframes on the same chart. Moreover, the indicator gives clear alert signals for possible buy and sell opportunities.

The oscillator is colored red and green. It turns green when the price is in an uptrend and red when it is in a downtrend. Meanwhile, the blue moving average confirms reversals and gives the entry signal.

The indicator oscillates above and below zero to show overbought and oversold market conditions. When the oscillator is above zero, it shows bulls are in the lead. When it crosses above 40, it shows the market is overbought. Meanwhile, when the oscillator is below zero, bears are in control. When it crosses below -40, it shows the market is oversold.

How to Use the VZO + Signal (Mtf + Alerts) Indicator For MT4

To use the indicator, identify the market direction and whether it is overbought or oversold. Then, wait for confirmation when the oscillator crosses the signal moving average. For a buy position, wait for the oscillator to cross below -40, indicating an oversold market. Enter your position when the oscillator crosses above the signal moving average.

For a sell position, wait for the oscillator to cross above 40, indicating an overbought market. Enter your sell order when the oscillator crosses below the signal moving average.

Conclusion

The VZO Signal (mtf + alerts) indicator gives good buy and sell signals when the market is oversold or overbought. Additionally, traders can quickly identify the current trend with a color-coded volume zone oscillator. Meanwhile, the signal moving average confirms reversals, and the indicator sends clear alerts for possible entry opportunities.