Original author:
Evgeniy Gutorov
A trend oscillator indicator. The main algorithm for getting the source signals using the formula:
InputSeries[bar] = (Close[bar] - Open[bar]) / (High[bar] - Low[bar])
To calculate the oscillator signal generated by the green line we use the following formula:
Osc=Sum(Period) / Sum(Abs(Period)) * 100
where:
- Sum(Period) - a sum of source signal values for a period;
- Sum(Abs(Period)) - a sum of absolute source signal values for a period.
The red line is the Hodrick-Prescott filter which redraws if the redraw period in the beginning bars is big. For that reason it's better to use the period of 2 to get more reliable results.
Originally this indicator has been written in MQL4 and was first published in the Code Base on 15.08.2009.
Fig. 1 The geTrendOsc trend oscillator
