M Oscillator - Extension - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The original indicator (with more explanation) is published here: M Oscillator. In its original description, NGBaltic states that the M oscillator oscillates between values +14 and -14, which unfortunately is not true. This is only true for M oscillator main period 14. All other cycles produce different ranges. In this version, in order to maintain the original spirit of the indicator described by NGBaltic, the indicator oscillates in the range +14 to -14 (it was decided to use this strange range only because NGBaltic mentioned it), and then the significant (fixed) level of the signal can also be used. In this spirit, in the expanded version we have not 3, but 4 color variations:
You can use color changes as signals
Attachment download
📎 m-oscillator_hextendedv.mq5 (11.54 KB)
Source: MQL5 #24562
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