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- 4283
- Rating:
- votes: 11
- Published:
- 2018.10.25 18:17
Murreys Math Oscillator is a market direction oscillator with Murray levels.
The indicator has three input parameters:
- Period - calculation period
- Multiplier - multiplier for adjusting levels to the current state of the oscillator chart
- Show levels - display Murray levels (Yes/No)
Calculation:
MMO = 2.0 * (Close-Mid)/Range
where:
Mid = Min+Multiplier * Range * 4.0 Range = Max-Min Min,Max - the lowest and the highest prices in the Period range
When the oscillator reaches the next Murray level, the column color changes to the one corresponding to that level.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22361

Market Direction Indicator

The Expert Advisor sets pending Buy limit and Stop limit orders.