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Views:: 4171
Rating:: (9)
Published:: 2018.07.13 15:20

MPO.mq5 (10.71 KB) view

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Indicator MPO (Midpoint Oscillator) displays price movement without its trend component around its centerpoint. It is displayed as two lines: Price movement line and signal line. Centerline (MidPoint) is zero level of the oscillator.

The indicator has three configurable parameters:

Period - price line calculation period;
Smoothing period - signal line calculation period;
Smoothing method - signal line smoothing method.

Calculations:

MidPoint = 100.0 * (2.0 * Close - Max-Min) / (Max-Min)
Signal = MA(MidPoint,Smoothing period, Smoothing method)

where:

Max, Min - the highest and the lowest values within Period

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21164

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MPO - indicator for MetaTrader 5