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Published:

2018.06.16 11:03

PC.mq5 (10.66 KB) view

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Price Cycle oscillator.

It has four input parameters:

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

Calculations:

PC = MA(Close-Low) / ATR

When the indicator line moves beyond the daily overbought/oversold level and the price approaches to the extreme monthly ranges, we can consider it is time to buy/sell.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20700

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PC - indicator for MetaTrader 5