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votes: 8
Published:
2018.07.13 15:20
MPO.mq5 (10.71 KB)view

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 Software Corp.
Original code: https://www.mql5.com/ru/code/21164

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