Projection_Oscillator - MetaTrader 5 Script - MT4/MT5 Resource
Projection_Oscillator is based on projection strips . Unlike the original indicator, it displays overbought/oversold levels in a separate window.
The indicator has three input parameters:
PO = 100 * (Close-DnBand) / (UpBand-DnBand) UpBand = Max(height, front height*slope height) DnBand = Min(Low, PrevLow*SlopeLow)
Where:
Figure 1. Projection oscillator
Figure 2. Projection oscillator + projection strip
Attachment download
📎 projection_oscillator.mq5 (10.1 KB)
Source: MQL5 #21546
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