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Indicators

TCI - indicator for MetaTrader 5

Scriptor | English Русский 中文 Español Deutsch 日本語 Português
Views:
4036
Rating:
(8)
Published:
2018.07.09 13:48
TCI.mq5 (10.7 KB) view
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Oscillator TCI (Trading Channel Index) displays the ratio between the average daily price and the smoothed averaged value of the average daily price.

It has four configurable parameters:

  • Period - calculation period;
  • Average period - period of calculating the average smoothed value;
  • Coefficient - coefficient (indicator price scale values scaling);
  • Applied price - price used for calculations.

Calculation:

TCI = EMA(B2, Average period)

where:

B2 = (Applied price - MA1) / (Coeff * MA2)
MA2 = EMA(B1, Period)
B1 = Abs(Applied price - MA1)
MA1 = EMA(Applied price, Period)

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21114

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