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2015.04.10 14:12
Indicators

Trend Oscillator - indicator for MetaTrader 5

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Published by:
Nikolay Kositsin
Views:
1972
Rating:
votes: 13
getrendosc.mq5 (9.73 KB)view

Original author:

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.

Fig. 1 The geTrendOsc trend oscillator

Fig. 1 The geTrendOsc trend oscillator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/12521

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