Indicator MPO (Midpoint Oscillator) displays price movement without its trend component around its centerpoint. It is displayed as two lines: Price movement line and signal line. Centerline (MidPoint) is zero level of the oscillator.
The indicator has three configurable parameters:
Period – price line calculation period;
Smoothing period – signal line calculation period;
Smoothing method – signal line smoothing method.
Calculations:
MidPoint = 100.0 * (2.0 * Close - Max-Min) / (Max-Min)
Signal = MA(MidPoint,Smoothing period, Smoothing method)
where:
Max, Min – the highest and the lowest values within Period
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