Gauss Marker 4
Gauss Marker is developed to detect oversold/overbought markets by comparing Gaussian weighted prices series.
This indicator is most effective when used with a DeMarker based systems. If both indicators move synchronously, there is an emerging trend. But if Gauss Marker enters an oversold/overbought zone, and DeM doesn't follow it, this signals a reverse of the tendency.
To increase the effectiveness by filtering false price spikes, the J-smoothing option has been added.
The MetaTrader 5 version is also available: https://www.mql5.com/en/market/product/1602