PdfMA Great Oscillator - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
Bill Williams' Excellent Oscillator Technical Indicator (AO) is a 34-period simple moving average constructed across the midpoint of the bar (H+L)/2, subtracted from the 5-period simple moving average constructed across the midpoint of the bar (H+L)/2. It shows us a moment in time where changes in market drivers are very evident.
It uses PdfMA (Probability Density Function Weighted Moving Average) instead of using SMA (Simple Moving Average). It deviates from the original Ao because there are no parameters that can be changed in AO, but here you can change the variance part of the PdfMA calculation. This way you can get different AO values without changing the calculation period (general rule of thumb: the larger the variance, the smoother the result)
You can use color changes (mainly zero crossings) as trend change signals
Attachment download
📎 pdfma_awesome_oscillator.mq5 (9.27 KB)
Source: MQL5 #23447
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •