Projection_Oscillator

Projection_Oscillator is based on Projection_Bands. Unlike the original indicator, it displays the line in a separate window with overbought/oversold levels. The indicator has three input parameters: Period – calculation period; Overbought – overbought level; Oversold – oversold level. Calculation: PO = 100 * (Close-DnBand) / (UpBand-DnBand) UpBand = Max(High, PrevHigh*SlopeHigh) DnBand = Min(Low, PrevLow*SlopeLow) where: … Read more