Speed ​​Oscillator - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources - MetaTrader 5 Resources

Measures the moving average speed of the current bar, relative to the average of # (averaging periods) past bars.

This oscillator can be intuitively described as a velocity indicator .

current bar speed/ means past speed # bars

 AvgPosBuffer[i] = pos_sum/InpSPeriod;
         AvgNegBuffer[i] = neg_sum/InpSPeriod;

         if(ExtMABuffer[i] - ExtMABuffer[i-1]>0)
         {
            SO[i] = (ExtMABuffer[i]-ExtMABuffer[i-1]) / AvgPosBuffer[i];
         }
         Otherwise if(ExtMABuffer[i] - ExtMABuffer[i-1]<0)
         {
            SO[i] = -((ExtMABuffer[i]-ExtMABuffer[i-1]) / AvgNegBuffer[i]); 
         }
         otherwise{
            SO[i] = 0;
         }

Moving Average(9)

Average period(120)

Attachment download

📎speedoscillatorv2.2.mq5 (5.77 KB)

Source: MQL5 #35277