DEROSC - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Constance Brown's derived oscillators are published in her book Technical Analysis for Trading Professionals
This indicator is twice exponentially smoothed RSI, with default parameters of 5 and 3.
The signal line is then formed by simple smoothing of the resulting 2ERSI with period 9.
The exported histogram is calculated as the difference between 2ERSI and the signal line
There are five inputs:
DEROSC = EMA2 - SMA (EMA2, SMA period)
EMA2 = EMA(EMA1, second EMA period) EMA1 = EMA(RSI, first EMA period) RSI - RSI (Apply Price, RSI Period)
Attachment download
📎 derosc.mq5 (11.02 KB)
Source: MQL5 #21825
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