A non-normalized oscillator. The indicator is calculated using the following formula:
Percentage Price Oscillator = (FastMA - SlowMA) / SlowMA
According to the author:
The indicator is implemented with a signal line, so it can be used similarly to the stochastic oscillator.
This indicator was first implemented in MQL4 and published in Code Base 08.03.2008.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging price series for intermediate calculations without using additional buffers".
Figure 1. The Percentage_Price_Oscillator indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1778
This indicator will plot divergence lines on the MACD indicator and will give buy and sell signal by displaying green and red arrows.Velocity_v2
The Momentum oscillator with a triple averaging and a signal line.