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Effort_Result.mq5 (8.14 KB) view

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Effort Result oscillator displays correlation of the price change speed to the maximum volume for the specified time interval.

It has one configurable parameter:

Calculation:

ER = ROC / MaxVol

where:

ROC = 100.0 * (Price / Price[Period]-1)
Price = SMA(Close, Period)
MaxVol - maximum volume in the Period range

The indicator has a peculiarity: sharp spikes of the oscillator values often forecast a price reversal towards the oscillator reversal

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22194

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Effort_Result - indicator for MetaTrader 5