Percentage_Price_Oscillator - MetaTrader 5 Script - MT4/MT5 Resource
Unstandardized oscillator. The indicator is calculated using the following formula:
Percent Price Oscillator = (FastMA - SlowMA) / SlowMA
According to the author:
This indicator is implemented via signal lines, so it can be used in a similar way to the Stochastic Oscillator.
The indicator was first implemented in MQL4 and released in the code base on March 8, 2008.
The indicator uses the SmoothAlgorithms.mqh library class (must be copied to terminal_data_folder\MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.
Figure 1. Percentage_Price_Oscillator indicator
Attachment download
📎 smoothalgorithms.mqh (134.03 KB)
📎 percentage_price_oscillator.mq5 (9.52 KB)
Source: MQL5 #1778
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