Price Zone Oscillator – Floating Levels – indicator MetaTrader 5
by
Price Zone Oscillator indicator is based on the “Entering the Price Zone” article by Walid Khalil and David Steckler.
In our last article, we introduced a new oscillator that provides better guidance to buying and selling levels for securities: the Volume Zone Oscillator (VZO). This time, we introduce a similar, complementary indicator: the Price Zone Oscillator (PZO).
The formula for PZO depends on only one condition: if today’s closing price is higher than yesterday’s closing price, then the closing price will have a positive value (bullish); otherwise it will have a negative value (bearish).
Price Zone Oscillator = 100 x (CP/TC).
where:
CP (Closing position) = X-days EMA (± close).
and
TC (Total close) = X-days EMA (close).
Compared to the Price Zone Oscillator indicator, this version is using floating levels to find out the significant levels. To have a dynamic zero line, set both levels to 50.
MetaCOT 2 CFTC ToolBox (Set of… Contents GENERAL PROVISIONS Brief description Installing the libraries and indicators Several indicators in one window Exporting CFTC reports to CSV…
MQL5 Wizard - Trade Signals… The MQL5 Wizard allows creating ready-made Expert Advisors based on the Standard library classes delivered together with the client terminal…
MQL5 Wizard - Trade Signals… The MQL5 Wizard allows creating ready-made Expert Advisors based on the Standard library classes delivered together with the client terminal…
MQL5 Wizard - Trade Signals… The MQL5 Wizard allows creating ready-made Expert Advisors based on the Standard library classes delivered together with the client terminal…
MQL5 Wizard - Trade Signals… The MQL5 Wizard allows creating ready-made Expert Advisors based on the Standard library classes delivered together with the client terminal…
MQL5 Wizard - Trade Signals… The MQL5 Wizard allows creating ready-made Expert Advisors based on the Standard library classes delivered together with the client terminal…
MQL5 Wizard - Trade Signals… The MQL5 Wizard allows creating ready-made Expert Advisors based on the Standard library classes delivered together with the client terminal…
MQL5 Wizard - Trade Signals… The MQL5 Wizard allows creating ready-made Expert Advisors based on the Standard library classes delivered together with the client terminal…
