QCL Adaptive Band Oscillator MT4
- Indicators
- Version: 1.4
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 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 bands within the 0–100 range, with a center reference at 50. Extreme readings are compressed smoothly rather than cut off, preserving the relative position of the oscillator and its bands.
Key Features
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Consistent 0–100 scale: A clear, bounded display across charts.
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Adaptive reference bands: Upper and lower zones adjust to changes in oscillator variability.
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Smooth oscillator movement: Price smoothing helps reduce short-term fluctuations.
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Divergence analysis: Compare oscillator peaks and troughs with price structure.
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Optional center line: Display or hide the reference at 50.
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Customizable appearance: Configure line colors, widths, and styles in the Colors tab.
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Efficient calculations: Incremental updates reduce unnecessary recalculation on each tick.
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Clean line-based display: The MT4 edition displays the oscillator, two adaptive bands, and optional center line without channel shading.
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No alerts or trade execution: Designed for visual chart analysis.
Reading the Indicator
The 50 center line provides a reference for readings above and below the oscillator’s midpoint.
Movement beyond the adaptive bands highlights relatively extreme oscillator readings. A turn back toward the channel can draw attention to a change in momentum.
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 automatically draw divergence lines or signal arrows.
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 measure the variability behind the adaptive bands. |
| Upper Range | 1.6 | Controls the upper band’s distance from the center before the smooth transformation. |
| Lower Range | 1.6 | Controls the lower band’s distance from the center before the smooth transformation. |
| Show Center | true | Displays or hides the center line at 50. |
Line colors, widths, and styles are configured in the Colors tab. Channel shading is permanently disabled in this MT4 edition and has no input setting.
Calculation and Display
The core calculation is derived from Sylvain Vervoort’s smoothed Bollinger %b approach. A common smooth transformation is then applied to the oscillator and both adaptive bands.
The displayed values 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 4, using the current chart’s price data and timeframe. The indicator runs in a separate window.
QCL Adaptive Band Oscillator supports visual analysis and does not guarantee trading results.
