Pivot_Oscillator - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources

Pivot Oscillators are three oscillators based on the average difference in typical prices.

There are four input parameters:

Pivot Oscillator = (Diff1 + Diff2 + Diff3) / Typical Price

Diff1 = FMA - SMA
Diff2 = MMA - SMA
Diff3 = FMA - MMA

FMA = MA (typical price, fast MA cycle, MA method)
MMA = MA (typical price, mid-term MA cycle, MA method)
MMA = MA (typical price, slow MA cycle, MA method)

Typical price = (closing price + highest price + lowest price) / 3.0

Attachment download

📎 pivot_oscillator.mq5 (12.43 KB)

Source: MQL5 #22943