This option enables the pips oscillation detection feature. This functionality has the ability to send alerts whenever the current price of the currency pair's chart the expert advisor is attached to reaches a minimum variation of pips in a given period of time. This can give the trader some piece of mind while he is away from MetaTrader since he will be alerted as soon as the price raises too quickly in a certain direction at a given period of time, usually a short one (which can be configurable).
The next two inputs (Pips Oscillation Value and Pips Oscillation Timeframe ) are directly related to this option since they only work when the Pips Oscillation Alert input is enabled.
For instance, imagine that the current price for EURUSD is 1.3500. Now consider that you want to be alerted whenever the price oscillates 50 pips during a 5 minutes timeframe. This means that a price equal to 1.3550 or 1.3450 should be reached in a period of 5 minutes in order to alerts be sent. This can be achieved by simply turning the Pips Oscillation Alert on (set to
true), setting the Pips Oscillation Value input to
50 and the Pips Oscillation Timeframe to