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Indicators

Price Zone Oscillator - indicator for MetaTrader 5

Mladen Rakic | English Русский 中文 Español Deutsch 日本語 Português
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6095
Rating:
(16)
Published:
2018.07.24 11:59
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Price Zone Oscillator indicator is based on the "Entering the Price Zone" article by Walid Khalil and David Steckler.

In our last article, we introduced a new oscillator that provides better guidance to buying and selling levels for securities: the Volume Zone Oscillator (VZO). This time, we introduce a similar, complementary indicator: the Price Zone Oscillator (PZO).

The formula for PZO depends on only one condition: if today's closing price is higher than yesterday's closing price, then the closing price will have a positive value (bullish); otherwise it will have a negative value (bearish).

Price Zone Oscillator = 100 x (CP/TC).

where:

CP (Closing position) = X-days EMA (± close).

and

TC (Total close) = X-days EMA (close).

Henderson's Filter Henderson's Filter

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Multi T3 Slopes Multi T3 Slopes

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Price Zone Oscillator - Floating Levels Price Zone Oscillator - Floating Levels

Compared to the Price Zone Oscillator indicator, this version is using floating levels to find out the significant levels.

Normalized RSI Normalized RSI

Normalized RSI tries to fix the "RSI problem": the longer the calculating period, the flatter the RSI becomes.