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Views:: 3500
Rating:: (12)
Published:: 2018.04.18 17:08

CVI.mq5 (10.13 KB) view

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The oscillator shows the value of price deviation from the Moving Average taking into account ATR.

Calculation formula:

CVI = (Close – MA ) / ATR

Modified formula:

(MCVI) = (Close – MA ) / (ATR * (Period ^ 0.5))

The indicator has six input parameters:

Period - period;
MA method - calculation method;
MA price - calculation price;
Modified algorithm - enable/disable the modified algorithm;
Overbought - overbought level;
Oversold - oversold level.

Fig.1 Unmodified calculation algorithm

Fig.2 Modified calculation algorithm

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20150

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CVI - indicator for MetaTrader 5