Introduction to the STO JMA Indicator
The STO JMA Indicator is a custom forex oscillator. Like all oscillators, this one also shows overbought and oversold market levels. When that oscillator line reaches below 20 level, it means the price is oversold and you should be looking for a buy trade opportunity. Similarly, when the oscillator line reaches above 80 level, it means the price is overbought and you should be looking for a sell trade opportunity. Take profit target could be an opposite extreme level.
The STO JMA Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the STO JMA indicator in MetaTrader (MT4)?
Download the STO JMA.rar archive at the bottom of this post, unpack it, then copy and paste the STO JMA.ex4 or STO JMA.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The STO JMA indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 STO JMA Indicator
To download the STO JMA Indicator for Metatrader 4 (MT4) for free just click the button below: