Monster Oscillator

What Is the Monster Oscillator Indicator for MT4

The Monster Oscillator Indicator for MT4 is a powerful custom trading tool designed to detect high-probability buy and sell zones using a combination of Momentum, Moving Average (MA), and Bollinger Bands (BB).

Unlike ordinary signal indicators, Monster Oscillator Indicator calculates multi-layer confirmations before sending a trading signal. It measures price momentum, checks the relationship between the current price and moving averages, and analyzes the Bollinger Bands distance to detect volatility expansion.

When all conditions align, the indicator displays a green histogram for buy signals or a red histogram for sell signals in a separate window. Traders also receive instant alerts via sound, email, or push notification, allowing them to act without constantly monitoring charts.

This makes it a valuable tool for scalpers, intraday traders, and swing traders who rely on dynamic price movement detection and confirmation-based entries.

How It Works Monster Oscillator Indicator for MT4

The Monster Oscillator Indicator uses a set of built-in technical algorithms:

Momentum Filter:
Calculates price momentum over a custom period (default 14). When momentum crosses above or below the predefined level (default 100), it signals strong market direction.

Moving Average Filter:
Checks whether the current price is above or below a moving average. This ensures that signals align with the prevailing trend.

Bollinger Band Analysis:
The indicator verifies that the Bollinger Band channel width exceeds a minimum distance. This avoids false signals during low volatility periods.

Dual Histogram Display:

• Green bars → Bullish momentum (Buy signal)
• Red bars → Bearish momentum (Sell signal)

Smart Notifications:
 The indicator can notify traders via:

• Sound alert (default: alert.wav)
  
• Email alert
  
• Mobile notification (MT4 push)
  

This ensures that traders are instantly informed when strong opportunities arise, even if MT4 is minimized or running in the background.

See also: Moving Average Ribbon

Monster Oscillator Indicator Settings

Here’s a breakdown of the most important parameters:

All parameters can be adjusted according to the trader’s strategy or volatility conditions.

Why Use the Monster Oscillator Indicator for MT4

• Multi-confirmation system (Momentum + MA + BB)
• Built-in alert system (Sound, Email, Push)
• Avoids low-volatility traps
• Suitable for all timeframes and currency pairs
• Fully customizable inputs

How to Instal “Monster Oscillator” Indicator for Metatrader 4

1. Open your Metatrader 4 platform.
2. Download and save the “Monster Oscillator” indicator to your desktop or any other folder located on your local computer.
3. Choose “File” then “Open Data Folder” (Ctrl + Shift + D) on your Metatrader 4 platform.
4. Explore the following folder: MQL4 > Indicators.
5. Copy and paste the “Monster Oscillator” indicator into this folder.
6. Restart Metatrader 4.
7. “Monster Oscillator” indicators are stored by default in the custom indicator folder.
8. To access these indicators, go to Top Menu > Insert > Indicators > Custom.
9. In order to add a “Monster Oscillator” indicator to any of your Metatrader 4 charts, you will need to select a forex chart with one mouse click, then go to Top Menu > Insert > Indicators > Custom > click the “Monster Oscillator”.
10. Done!

See a complete guide How To Install Metatrader 4 Custom Indicators

This indicator eliminates guesswork and gives clear, objective visual signals. Combined with a good risk management plan, it can significantly enhance consistency and timing accuracy.

You can download Monster Oscillator Indicator for MT4 for free and integrate it easily into your trading platform.
Simply copy the .mq4 file into your Indicators folder, refresh the MT4 navigator, and attach it to your desired chart.

Tip: Use Monster Oscillator Indicator with other filters (like ADX or RSI) for even stronger trade confirmation.

Free Download Monster Oscillator indicator for Metatrader 4