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You liked the script? Try it in the MetaTrader 5 terminal
OBOS - indicator for MetaTrader 5
- Views:
- 9728
- Rating:
- Published:
- 2018.10.25 18:35
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Overbought/Oversold oscillator displays the market movement direction color histogram in a separate window.
The indicator has three input parameters:
- Period - calculation period
- Overbought - overbought level
- Oversold - oversold level
Calculation:
Up = EMA(EMA((WP-EMA(WP)) / StdDev(WP))) Down = EMA(Up, Period)
where:
EMA - EMA(PRICE_WEIGHTED, Period) StdDev - StdDev(PRICE_WEIGHTED, Period) WP - weighted price (High+Low+Close+Close)/4
The upward movement is displayed by the green histogram
The downward movement is displayed by the red histogram
Uncertain movement is displayed by the gray histogram
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22186