Breakdown_Oscillator - MetaTrader 5 Script - MT4/MT5 Resource
The Breakout Oscillator is based on the observation that the longer the price stays below the Bollinger Bands, the higher the probability that it will fall.
It has six input parameters:
Breakdown = 100.0 * EMA / Bottom
EMA = EMA(difference,period) Difference = App Price - Bottom + Slope Factor* (SMA-PrevSMA) Bottom = SMA - Deviation * StdDev StdDev - Standard deviation (app price, band period) SMA = SMA(application price,period)
Figure 1. Breakdown Oscillator
Figure 2. Breakdown oscillator + Bollinger Bands
Attachment download
📎 breakdown_oscillator.mq5 (12.66 KB)
Source: MQL5 #22343
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