Author: Andrey N. Bolkonsky
The Ergodic CSI Oscillator (based on Candlestick Index) is described by William Blau in the book "Momentum, Direction, and Divergence: Applying the Latest Momentum Indicators for Technical Analysis".
- WilliamBlau.mqh must be placed in terminal_data_folder\MQL5\Include\
- Blau_Ergodic_CSI.mq5 must be placed in terminal_data_folder\MQL5\Indicators\
Ergodic CSI-Oscillator by William Blau
The CSI Oscillator is defined as follows:
Ergodic_CSI(price1,price2,q,r,s,u) = CSI(price1,price2,q,r,s,u)
SignalLine(price1,price2,q,r,s,u,ul) = EMA( Ergodic_CSI(price1,price2,q,r,s,u) ,ul)
- Ergodic_CSI() - Erogic line - Candlestick Index CSI(price1,price2,q,r,s,u);
- SignalLine() - Signal Line - EMA(ul), applied to Ergodic;
- ul - period of a Signal Line.
- graphic plot #0 - Ergodic Line (Candlestick Index):
- q - number of bars, used in calculation of Candlestick Momentum (by default q=1);
- r - period of the 1st EMA, applied to Candlestick Momentum (by default r=20);
- s - period of the 2nd EMA, applied to result of the 1st smoothing (by default s=5);
- u - period of the 3rd EMA, applied to result of the 2nd smoothing (by default u=3);
- graphic plot #1 - Signal Line:
- ul - period of a Signal Line, EMA(ul) is applied to Ergodic (by default ul=3);
- AppliedPrice1 - price type (by default AppliedPrice1=PRICE_CLOSE);
- AppliedPrice2 - price type (by default AppliedPrice2=PRICE_OPEN).
- r>0, s>0, u>0. If r, s or u are equal to 1, the smoothing is not used;
- ul>0. If ul=1, the Signal and Ergodic Lines are the same;
- Min. rates = (q-1+r+s+u+ul-4+1).