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- Views:
- 8925
- Rating:
- Published:
- 2018.12.18 19:11
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Elliot Wave Oscillator displays the difference between two moving averages as a colored histogram.
It has four inputs:
- Fast MA period
- Slow MA period
- Method - МА calculation method
- Applied price - МА calculation price
Calculation:
EWO = FastMA - SlowMA
where:
FastMA - MA(Applied price, Fast MA period, Method)
SlowMA - MA(Applied price, Slow MA period, Method)
- If the histogram is above zero and the indicator values are rising, the histogram bars are colored light-green
- If the histogram is above zero and the indicator values are falling, the histogram bars are colored dark-green
- If the histogram is below zero and the indicator values are falling, the histogram bars are colored orange
- If the histogram is below zero and the indicator values are rising, the histogram bars are colored dark-red
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22593
InvestorsVsSpeculators
InvestorsVsSpeculators indicator
Constituents EA
At the specified hour, the Expert Advisor analyzes OHLC of the previous bar and sets pending orders