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- Published:
- 2018.08.23 13:38
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Open_Oscillator calculates Open price change dynamics for a specified period of time. It draws two lines - minimum and maximum Open prices for the range relative to the current values, as well as two signal lines.
It has two configurable parameters:
- Period - calculation period;
- Signal period - signal lines smoothing period.
Calculation:
Low = MinPos - Open High = Open - MaxPos SignalLow = EMA(Low, Signal period) SignalHigh = EMA(High, Signal period)
where:
- MinPos - lowest price within the Period range;
- MaxPos - highest price within the Period range.
The location of the signal lines relative to each other indicates a trend, the crossings of the signal and the oscillator lines indicate the entry direction.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21543
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