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

The power measuring oscillator shows the ratio of price changes to volatility.

It has a configurable parameter:

This indicator calculates the percentage difference between the current closing price and the previous closing price:

 CC = 100.0*(Closing Price - Previous Closing Price) / Previous Closing Price
The percentage difference between the highest and lowest prices can also be calculated:
HL = 100.0 * (highest price - previous lowest price) / previous lowest price
The power measurement is calculated as the correlation ratio between these two streams:
PM = Sum/Sqrt(SumCC2 * SumHL2)
sum = sum((CC - SMA(CC,period)) * (HL - SMA(HL,period)),period)
SumCC2 = Sum((CC - SMA(CC, period)) * (CC - SMA(CC, period)), period)
SumHL2 = Sum((HL - SMA(HL,period)) * (HL - SMA(HL,period)),period)
 Attachment download
 📎 power_measure.mq5 (9.34 KB)
 Source: MQL5 #22090