Range Oscillator Bands Smoothed indicator for MT5 FREE DOWNLOAD


Technical analysis is an essential part of trading in the financial markets. Traders and investors rely on various indicators to make informed decisions about buying or selling assets. One such indicator is the Range Oscillator Bands Smoothed indicator, designed to help traders identify trends and potential reversals. In this article, we will delve into the features, benefits, and usage of the Range Oscillator Bands Smoothed indicator for MetaTrader 5 (MT5), available for free download.

Understanding the Range Oscillator Bands Smoothed Indicator

The Range Oscillator Bands Smoothed indicator is a technical analysis tool that assists traders in gauging the volatility and potential price movements of a financial asset. This indicator combines elements of range-based analysis and oscillators, offering a comprehensive view of market conditions. The smoothed version adds an extra layer of refinement to help traders filter out the noise and identify meaningful trends.

The indicator consists of three main components:

  1. Range Oscillator Bands: These bands depict the range of price movements over a specified period. The upper and lower bands act as dynamic support and resistance levels, helping traders identify potential breakout or reversal points.
  2. Center Line (Zero Line): The center line represents the midpoint of the range and serves as a guide for identifying shifts in momentum. Crossings above the center line indicate bullish momentum, while crossings below it suggest bearish sentiment.
  3. Smoothed Averages: The smoothing element of this indicator helps reduce market noise and provides a clearer view of trends. The smoothed averages are calculated based on historical price data, enabling traders to spot trends more easily.

Benefits of the Range Oscillator Bands Smoothed Indicator

  1. Trend Identification: The indicator’s smoothed bands assist traders in identifying trends by filtering out short-term price fluctuations. This is especially valuable for swing traders and trend-following strategies.
  2. Volatility Assessment: Volatility is a key factor in trading decisions. The range-based nature of this indicator helps traders assess market volatility, allowing them to adjust their trading strategies accordingly.
  3. Divergence Detection: Divergence occurs when the price movement of an asset diverges from the movement of an indicator. The Range Oscillator Bands Smoothed indicator can help traders spot potential trend reversals or continuation by detecting divergences.
  4. Clear Entry and Exit Signals: The indicator’s upper and lower bands serve as dynamic support and resistance levels. Traders can use these levels to establish entry and exit points for their trades.
  5. Adaptable to Multiple Timeframes: The indicator can be applied to various timeframes, making it suitable for day traders, swing traders, and long-term investors.

Using the Range Oscillator Bands Smoothed Indicator in MT5

  1. Downloading the Indicator: To access the Range Oscillator Bands Smoothed indicator for MT5, traders can find it in various online trading communities and forums that offer free indicators for download.
  2. Installation: Once downloaded, the indicator can be added to the MT5 platform. Open MT5, go to the “Insert” menu, select “Indicators,” and then choose “Custom.” Locate the downloaded indicator file and click “OK” to install it.
  3. Customization: Traders can adjust the indicator’s settings, such as the period for calculating the bands and smoothing parameters, to suit their trading preferences.
  4. Interpretation: To interpret the indicator, look for crossovers of the center line, breakouts from the bands, and divergences between price and the indicator’s readings. Combine these signals with other technical and fundamental analysis tools for a comprehensive trading strategy.


The Range Oscillator Bands Smoothed indicator is a valuable addition to the toolkit of any trader using MetaTrader 5. By offering insights into trends, volatility, and potential reversals, this indicator assists traders in making more informed decisions. While using any technical indicator, it’s important to remember that no tool is foolproof. Successful trading involves a combination of indicators, risk management, and market awareness. Traders can explore the Range of Oscillator Bands Smoothed indicator and integrate it into their trading strategies to enhance their analysis and decision-making processes.

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