Indicator request-good oscillator
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Could anyone code this Oscillator in MT4 (can call it MTOsc) please and maybe provide an MTF version? The coding is too difficult for me at present.
It is an oscillator that can give good signals when peaking below zero (i.e. negative peak=go short),troughing above zero (i.e. positive trough=go long).This is the coding (fairly self-explanatory) that I use with the IT-Finance package,ProRealtime.
y=ExponentialAverage[par1](close)
y1=5*ROC[2](y)
y2=ExponentialAverage[par2](y1)
y3=Tema[par3](y2)
Works well with par1=20,par2=3,par3=7
Hopefully,the zero line could be included, if poss.
Again,ideally,one colour when osc line rising (default=blue,say),another when falling (default=red,say) as colour change will show the entry signals.
Multiframe use: could use the entry signals in a higher time-frame as a filter for trades in lower frame (either again using the indicator or your own approach).
Many thanks.
Mike