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SCE Oscillator

SCE (Statistical Cumulative Energy) Oscillator is based on calculations of statistical parameters of input parameters' time series.

Two moving averages are used for market entry. In the parameter settings (Fig. 1), users can specify the look of each moving average, as well as its smoothing period and type of price used for its calculation. Additional parameter (ArrowShow) displays the arrows showing the current direction of the indicator lines and server time. 

Graphical constructions of the indicator are displayed as cumulative (broken) lines. Such representation makes reversals and extreme values more visible, since the tops of the cumulative lines are formed by crossing of the two oppositely directed lines. The cumulative lines smooth insignificant fluctuations. If the line is located at the upper or lower border of its range, it means the trend continues in the appropriate direction. 

SCE indicator uses five graphical constructions calculated as cumulative values of mean square deviation of the following parameters: 

  • Stochastic - Stochastic oscillator (calculated based on stochastic indicator data) 
  • Forecast - price forecast (calculated by Open, High, Low, Close buffers)
  • Fast MA - fast moving average (defined by input parameters)
  • Slow MA - slow moving average (defined by input parameters)
  • Average - Forecast, Fast MA and Slow MA buffers' average.
  • The sixth Correlation graphical construction is a correlation ratio of the Average buffer's calculation data
  • The seventh Trend graphical construction is calculated as normalized weighted average of the all cumulative lines' buffers using the following equation: Trend=10*(StLine[i]/10+2*FcLine[i]/10+2*FsLine[i]/11+AvgLine[i]/12+SlLine[i]/13)/7 
  • The eighth Energy graphical construction is the energy line calculated as kinetic energy in physics: E = (m*v^2)/2/, where m - tick volumes; v - price rate of change (ROC).

Since the moving averages serve as the input data for SCE indicator, it would be better to set the main chart's window according to SCE parameters. Thus, we receive the adjusted trading system consisting of trend indicators + oscillator (see Fig. 2). ZigZag_FT is available in the Market for free.

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Version 2.0 2014.02.13
Added possibility to draw Emission, Average, Fast MA trend lines as histograms. When trading actively on small timeframes, this indicator view allows concentrating on fast lines such as Energy, Forecast and Correlation.
You can switch using DrawHistogram parameter.
Version 1.50 2014.02.04
1. Changed the algorithm of calculation of the color spectrum of the histogram of the general trend.
Now the spectrum complies with rainbow colors, what makes the change of a trend look smoother.
2. Fixed the error of calculation of the last bar of the energy line.
3. Fixed the warning about objects left after deinitialization.