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Indicators

Overbought_Oversold - indicator for MetaTrader 5

Scriptor | English Русский 中文 Español Deutsch 日本語 Português

Views:
2256
Rating:
votes: 9
Published:
2018.04.18 16:50

The indicator draws a Moving Average relative to ATR and overbought/oversold levels in a separate window.

Calculation formula:

Overbought_Oversold = (MA/ATR)*100

where:

  • MA - the Moving Average of the difference between Close and Low prices for the selected period;
  • ATR - Average True Range with the specified calculation period.

It has four input parameters:

  • Period - calculation period;
  • Method - MA calculation method;
  • Overbought - overbought level;
  • Oversold - oversold level.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/20061

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