QCL Adaptive Band Oscillator MT5
- Indicators
- Version: 1.3
A smooth 0–100 oscillator with adaptive reference bands for a clearer view of price momentum.
QCL Adaptive Band Oscillator combines smoothed price calculations with dynamic upper and lower reference bands. Displayed in a separate indicator window, it helps you examine momentum swings, potential turning points, and divergences between price and the oscillator.
A smooth transformation keeps the oscillator and both reference bands within the 0–100 range, with a neutral center at 50. This avoids hard clipping of extreme readings while preserving the relative position of the oscillator and its bands.
Key Features
-
Bounded 0–100 output: A consistent scale across charts.
-
Adaptive reference bands: Upper and lower zones respond to changes in oscillator variability.
-
Smooth price processing: Multiple smoothing stages help reduce short-term fluctuations.
-
Divergence analysis: Compare oscillator peaks and troughs with price structure.
-
Optional channel shading: Highlight the area between the adaptive bands.
-
Optional center line: Display or hide the reference at 50.
-
Customizable appearance: Adjust colors, line widths, and styles through the Colors tab.
-
Efficient updates: Incremental calculations avoid rebuilding the entire history on every tick.
-
No alerts: Designed for visual chart analysis.
Reading the Oscillator
The center line at 50 separates readings above and below the oscillator’s midpoint.
Moves beyond the adaptive bands highlight relatively extreme oscillator readings. A turn back toward the channel can help draw attention to a change in momentum.
You can also compare successive oscillator highs and lows with price highs and lows to examine regular and hidden divergences. Divergence recognition is manual; the indicator does not draw divergence signals automatically.
The adaptive bands are reference zones, not automatic buy or sell signals. Fixed levels such as 20 and 80 should not be interpreted as RSI-equivalent thresholds.
Input Parameters
| Parameter | Default | Description |
|---|---|---|
| Base Length | 18 | Lookback used in the core oscillator calculation. |
| Smoothing | 8 | Smoothing length. Lower values generally respond faster; higher values generally produce smoother movement. |
| Zone Length | 63 | Lookback used to calculate the variability behind the adaptive bands. |
| Upper Range | 1.6 | Controls the distance of the upper band from the center before the smooth transformation. |
| Lower Range | 1.6 | Controls the distance of the lower band from the center before the smooth transformation. |
| Show Center | true | Displays the center line at 50. |
| Show Zone Fill | true | Displays shading between the adaptive bands. |
Colors, line widths, and line styles are configured in the Colors tab.
Calculation and Display
The core calculation is derived from Sylvain Vervoort’s smoothed Bollinger %b approach. QCL Adaptive Band Oscillator adds a common smooth transformation to the oscillator and its adaptive bands.
The displayed values therefore differ from conventional Bollinger %b. The transformation preserves their relative ordering and band crossings while compressing extreme readings.
The current candle’s reading updates as prices change. Initial values remain empty until sufficient calculation history is available. Windows with effectively zero price variation may also remain empty because the underlying calculation is undefined.
Platform
Designed for MetaTrader 5 and displayed in a separate indicator window. It uses the current chart’s price data and timeframe.
QCL Adaptive Band Oscillator is a visual analysis tool. It does not execute trades or send alerts, and it does not guarantee trading results.
