DEROSC - indicator for MetaTrader 5

DEROSC – indicator MetaTrader 5

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The Derivative Oscillator indicator by Constance Brown was published in her book “Technical Analysis for the Trading Professional”

The indicator is a twice exponentially smoothed RSI with the default parameters of 5 and 3.
Then a signal line is formed by simple smoothing of the resulting 2ERSI with the period of 9.
The derived histogram is calculated as a difference between 2ERSI and the signal line

There are five inputs:

  • RSI period – period of RSI
  • First EMA period – the period of the first smoothing EMA
  • Second EMA period – the period of the second smoothing EMA
  • SMA period – signal line smoothing period
  • Applied price price used for calculations
  Pinball machine - EA MetaTrader 5

Calculation:

DEROSC = EMA2 - SMA(EMA2, SMA period)

where:

EMA2 = EMA(EMA1, Second EMA period)
EMA1 = EMA(RSI, First EMA period)
RSI - RSI(Applied price, RSI period)


DEROSC – indicator MetaTrader 5
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