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DCMV oscillator for MT4

DCMV Trade Channel Oscillator

The indicator calculates the values of DCMV trade channel oscillator:

  1. Trade channel width.  The value of trade channel depends on the trend (it increases at start of the trend and has the maximum values at end of the trend). The value of trade channel decreases at flat movement. The lowest values of channel width indicates the high probability of the very strong price movement.
  2. The +DC line shows the "bulls" power.
  3. The -DC line shows the "bears" power.
  4. The value of DCM line shows the relative strength of bulls and bears (positive for bullish, negative for bearish).
  5. The signal lines are calculated as moving averages of the base lines.
  6. The DCM potential (the difference between DCM line and its signal line) is shown as a histogram.

Usage:

  • Analysis - if +DC>-DC at the point with the minumum width, the upward movement is expected. Otherwise (+DC<-DC) the downward movement is expected.
  • Trade signals - buy if DCM potential>0, sell if DCM<0.

Input parameters:

input int  diapason=144; // Period for calculation of the DCMV oscillator
input int  history=500;  // Depth oscillator displayed
input int  MA_Period1=21;// DCM signal line averaging period 
input int  MA_Period2=14;// +DC signal line averaging period
input int  MA_Period3=14;// -DC signal line averaging period

Indicator buffers:

  • 0 - DCM potential
  • 1 - Trade channel width
  • 2 - +DC
  • 3 - -DC
  • 4 - DCM
  • 5 - DCM signal line
  • 6 - +DC signal line
  • 7 - -DC signal line
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