Description
Forex Momentum Universal is the MetaTrader 5 build of the Fisher-transform momentum oscillator, tuned for Deriv synthetic indices. Each bar’s median price is measured against the highest high and lowest low of a configurable lookback (default 120 bars), normalised recursively into a bounded range, then pushed through a smoothed Fisher transform — which stretches the middle of the range and compresses the extremes, so turns stand out instead of blurring into noise. The result plots in its own sub-window as a two-colour histogram, lime above the zero line and red below, with a blue arrow when momentum crosses up through zero and a yellow arrow when it crosses down.
The MT5 edition adds three things the MT4 build does not have. Signals are gated to closed bars by default, so arrows and alerts never print and then vanish on the forming bar. Alerts can be routed to your phone as push notifications alongside the on-screen pop-up. And alert de-duplication keys off bar time rather than bar count, so it survives history reloads and VPS reconnects. All six buffers are exposed as INDICATOR_DATA, which means an EA can read the Fisher value, the normalised value, both histograms and both arrow series through iCustom.
Because the reading is normalised against recent range rather than fixed overbought and oversold levels, it behaves consistently across Volatility, Boom/Crash, Step and Jump indices as well as FX pairs and XAUUSD — hence “Universal”. Four inputs: lookback period, pop-up alerts, push alerts and the closed-bar gate. Free MT5 (.mq5) source included. Educational tool, not financial advice.
Trading MetaTrader 4? The MT4 edition of Forex Momentum Universal runs the same Fisher calculation.
Reviews
There are no reviews yet.