Metatrader 5 Indicators | Percentage_Price_Oscillator | Trading Tool Update

Fresh MQL5 code release – perfect for enhancing your MT4/MT5 strategies.

Real author:

Tom Balfe

A non-normalized oscillator. The indicator is calculated using the following formula:

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According to the author:

• It shows more accurate signals of divergence between the price and the value of the oscillator;
• It more accurately identifies price extremes, its movements are more dynamic.

The indicator is implemented with a signal line, so it can be used similarly to the stochastic oscillator.

This indicator was first implemented in MQL4 and published in Code Base 08.03.2008.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging price series for intermediate calculations without using additional buffers".

Figure 1. The Percentage_Price_Oscillator indicator

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