PCE Oscillator
- Indicators
-
Artem Koliada
MQL4/MQL5 Developer 💻 | Turning trading strategies into profitable code. Expert Advisors (EA) & Custom Indicators for MT4/MT5. Let's automate your trading - Version: 1.0
- Activations: 5
Prime Confluence Engine — Oscillator is a separate-window indicator for MetaTrader 5 that visualizes a composite signal quality score based on three independent analytical layers working simultaneously.
HOW IT WORKS
The indicator calculates a Confluence Score ranging from -100 to +100. The score is derived from three layers:
Layer 1 — Renko Filter: An internal Renko engine with an auto-calculated brick size (ATR-based) suppresses short-term market noise. The trend is confirmed only after a minimum number of consecutive bricks in one direction.
Layer 2 — Prime Trend (ATR SuperTrend): Determines the current trend direction using an ATR-based SuperTrend algorithm. Provides the directional sign (+/-) for the score.
Layer 3 — Markov Filter + Time Exponent: The Markov filter evaluates the statistical probability of trend continuation based on historical price states. The Time Exponent measures the fractal dimension of price movement — filtering out flat and chaotic market conditions.
VISUAL ELEMENTS
- Color histogram: blue bars = bullish confluence, red bars = bearish confluence, gray bars = no confluence (all three layers do not agree)
- Score line: a thin line showing the current score value
- Trend Inertia line (gold): displays the Markov probability, shown in the upper zone of the panel
- Noise Filter line (purple): displays the Time Exponent value, oscillating through the panel
- Signal dots: appear above a blue bar or below a red bar when the score crosses the ±52 threshold — indicating a moment of full confluence
- Horizontal levels at +52, -52 and 0
CANDLE COLORING (on the main chart, if PCE main indicator is also applied)
The oscillator is a standalone panel indicator. Candle coloring is performed by the main Prime Confluence Engine indicator separately.
ALERTS
The indicator sends alerts (popup, push notification, email, sound) when a new signal dot appears on a closed bar. Alerts do not repaint — they trigger only on confirmed bar close.
SETTINGS
Prime Trend: ATR Period, ATR Multiplier
Renko Filter: Enable/disable, ATR period, brick size multiplier, minimum bricks to confirm
Markov Filter: Enable/disable, history depth, smoothing, minimum probability threshold
Time Exponent: Enable/disable, calculation period, minimum and maximum thresholds
Visuals: custom colors for BUY/SELL/neutral, Renko boost value, signal dot display
Alerts: popup, push, email, sound
IMPORTANT
This indicator is a visual analytical tool. It does not execute trades, does not connect to any external services, and does not guarantee any trading results. Past performance of any signal pattern does not guarantee future results. Always use proper risk management.
Supported: MetaTrader 5. All symbols and timeframes.
