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Indicators

Psychology_Index - indicator for MetaTrader 5

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353
Rating:
votes: 9
Published:
2018.06.06 14:29

The overbought/oversold indicator, which was first described in "Futures Magazine" in June 2000, under the name of "Psychological Index".

It has one input parameter:

  • Period - indicator calculation period.

Calculation:

PsyIndex[i] = SMA(UpDay)

where

  • If Close[i] > Close[i-1]
    UpDay[i] = 1,
  • otherwise
    UpDay[i] = 0

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/20448

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