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A simple oscillator based on the values of the Chaikin Oscillator, Commodity Channel Index and iMomentum indicators and implemented as a two-colored histogram.
Indicator calculation formula:
kwan = MA(iChaikin[bar] * iCCI[bar] / iMomentum[bar])
The growth of a financial asset is usually accompanied by the indicator growth and the light-blue color of the histogram. An asset is considered falling if the indicator falls and the histogram is red and pink. The optimal time to perform a trade is when the color of the histogram bars changes.
The indicator uses the SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The classes were described in detail in the Averaging Price Series for Intermediate Calculations Without Using Additional Buffers article.
Fig.1. Indicator KWAN_CCC
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20608
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