Fig. 1 The geTrendOsc trend oscillator

Trend Oscillator – indicator MetaTrader 5

by

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.

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Fig. 1 The geTrendOsc trend oscillator

Fig. 1 The geTrendOsc trend oscillator


Trend Oscillator – indicator MetaTrader 5
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