Average OsMA Indicator for MT4 and MT5

Written by Dominic Walsh · Published 28 May 2026 · Last updated 18 Sep 2026

OsMA stands for moving average of oscillator, and it measures the distance between a MACD line and its signal. The average osma indicator plots that one figure as a histogram and nothing else. Where the columns cross zero is where the two MACD lines would meet.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Separate window (levels 0)
Plots	1: OsMA
Alerts	popup, push notification, email, sound
Inputs	9

What the Average Osma Indicator shows

A single histogram in the pane.

`OsMA` fills steel blue at width 2.

A level marks zero across the middle.

No line plots appear at all.

No arrows or markers get drawn.

The price chart stays untouched.

• OsMA: histogram, steel blue, width 2

What the file computes

One terminal call

iOsMA returns it directly. `FastEma` `12`, `SlowEma` `26` and `Signal` `9` set the periods, reading the close. Those are the standard MACD numbers.

What the figure is

It is a subtraction. The MACD line less its signal line, bar by bar. Column height therefore shows the gap between two lines this pane never draws.

The warm-up

Two stages have to fill. The slow average first, then the signal on top, so roughly thirty-five bars pass before values appear. A short history leaves the left edge blank.

What matters on screen

Zero marks the meeting point of the two hidden lines.

Tall columns mean they have parted widely.

Shrinking columns mean they are closing in.

Above zero the faster average leads.

Direction of the columns matters more than height.

Height across two symbols tells you nothing.

Alert channels in this build: popup, push notification, email and sound.

Four routes sit under `EnableAlerts`, which ships true alongside `EnablePopup`. Flip `EnablePushNotify` to reach a handset, `EnableEmail` to post mail, or `EnableSound` to play `SoundFile`. Zero crossings go out once a bar.

Every Average Osma Indicator input

Core settings

Setting	What it does	Default
FastEma	Shorter average feeding the difference, `12`.	12
SlowEma	Longer one, `26`.	26
Signal	Average taken of that difference, `9`.	9

Alert settings

Setting	What it does	Default
EnableAlerts	Top control over the crossings, `true`.	on
EnablePopup	Terminal message at a crossing, `true`.	on
EnablePushNotify	Handset push, `false`.	off
EnableEmail	Outgoing mail, `false`.	off
EnableSound	Play a clip, `false`.	off
SoundFile	Clip it plays, `”alert.wav”`.	alert.wav

Setting it up somewhere useful

Twelve, twenty-six and nine came from daily bars originally. EURUSD H1 is the reference chart. Zero crossings arrive every day or two there. On M5 they come constantly. On daily bars each one covers weeks of trade.

Where it falls short

Three averages stacked together lag heavily.

One histogram gives you nothing to cross.

In a range the columns flip either side of zero.

Column height on gold and on a cross mean different things.

Copy the compiled Average Osma Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Related on forexmt4systems.com: Moving Average Crossover Strategy.

Download the Average Osma Indicator for MT4 and MT5

The zip holds the compiled Average Osma Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

What does the OsMA histogram actually measure?

The gap between a MACD line and its own signal line. Neither line appears here, so the columns give the only view of a difference that normally sits between two visible curves.

Are FastEma and SlowEma the standard MACD values?

Yes, twelve and twenty-six with a nine-bar signal. Gerald Appel published those figures. The histogram inherits every property of the MACD behind it, lag included.

Why does the Signal period matter so much?

Because it decides how quickly the subtraction responds. A shorter signal tracks the main line closely and gives smaller, more frequent columns; a longer one makes the histogram slower and larger.

How long before the OsMA plot fills in?

Roughly thirty-five bars. `SlowEma` `26` fills first, then `Signal` `9` averages its output, so both stages finish before the first column can appear at the left edge of the chart.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Average Osma Indicator as one input. Always backtest before trading live.