FoM - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

The Free Moving Oscillator is a price movement indicator that excludes trend components from its charts.

It has two configurable parameters:

FoM = (vByM - avF) / sdF

sdF - StdDev(vByM, period)
avF - MA (vByM, period, method)
vByM = trading volume / moving volume volume = 1 + 9*(RV-MinV) / Abs(denomV)
denomV = MaxV - MinV
MaxV, MinV - Maximum and minimum RV value movement within period range = 1 + 9*(aMove-MinM) / Abs(denomM)
denomM = MaxM-MinM,
MaxM, MinM - Maximum and minimum aMove values ​​within the period range
aMove = Abs(closing price - previous closing price) / previous closing price
RV = (volume-av)/sd
sd - StdDev (volume, period)
av - MA (Volume, Period, Method)

Attachment download

📎 fom.mq5 (21.9 KB)

Source: MQL5 #22504