OBOS - Overbought/Oversold Indicator for MT5
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Hi to everyone on this great forum!
Could someone point to OBOS oscillator indicator found on FXCM terminals(non-MQL) please?
Perhaps someone could write it in MQL and make it available for MT5...
Here is the description/formula of it.
Thanks!
P.S.
The OBOS oscillator's values are calculated using the following formula:
OBOS Line 1 = EMA{EMA[100 x (WPr-EMA(WPr)) / StdDev(WPr)]}
OBOS Line 2 = EMA(Line 1)
where:
WPr - is the current period weighted price calculated as follows:
WPr=(2 x Close+Low+High) / 4
EMA - is the Exponential Weighted Moving Average of a certain number of periods specified by the Numbers of periods parameter of the OBOS Properties dialog box.
StdDev - is a standard deviation value of WPr calculated over a certain number of periods specified by the Numbers of periods parameter of the OBOS Properties dialog box.