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
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.
Fig. 1 The geTrendOsc trend oscillator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/12521
The MAMA indicator with the timeframe selection option available in the input parameters.Notches
The indicator draws lines by ascending series of maximums and descending series of minimums.