Oscillator indicating the cyclic changes in the market.
It has seven adjustable parameters:
- First MA period – first EMA period;
- Second MA period – second EMA period;
- Smoothing period – smoothing period;
- RSI period – RSI calculation period;
- Applied price – the calculation price;
- Overbought level – overbought level;
- Oversold level.
Calculation:
PGC =100.0 – 100.0 / (1.0+RS)
where:
if AvgDec != 0 RS = AvgInc / AvgDec otherwise RS = 0 AvgDec = EMA(Dec, RSI Period) AvgInc = EMA(Inc, RSI Period) If Z3 > PrevZ3 Inc = Z3 - PrevZ3, Dec = 0 If Z3 < PrevZ3 Dec = PrevZ3 - Z3, Inc = 0
Z3 = 2.0 * AvgMA3 – Avg2MA3
Avg2MA3 = EMA(AvgMA3, Smoothing period) AvgMA3 = EMA((Z1 - Z2), Smoothing period) Z2 = 2.0 * MA2 - AvgMA2 Z1 = 2.0 * MA1 - AvgMA1 AvgMA2 = EMA(MA2, First MA period) AvgMA1 = EMA(MA1, First MA period) MA2 = EMA(Applied price, Second MA period) MA1 = EMA(Applied price, First MA period)
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