Momentum Ratio Oscillator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The indicator uses a series of EMA calculations for smoothing to calculate a smoother momentum ratio value (current value compared to previous value). The results are somewhat similar to some already existing indicators such as Volume Area or Price Area Oscillators, but this comes from using EMA for smoothing (EMA produces "smooth step" results when values suddenly change) - the mathematics used for these indicators is completely different.
In this version you can use color changes or horizontal crossovers (since the indicator is bound to the 0 to 1 range) as signals
"Big picture" example:
Attachment download
📎 momentum_ratio_oscillator.mq5 (7.73 KB)
Source: MQL5 #23390
Momentum Ratio Oscillator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Momentum Ratio Oscillator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 resources are resources related to Forex indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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