MM - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources - MetaTrader 5 Resources

Oscillator MM (Market Mode) allows to evaluate the market state: trend state or cyclic state.

It has three configurable parameters:

 Pattern = SMA(BP, Period 2)
Peak = Fraction * SMA(FPeak, 50)
Valley = Fraction * SMA(FValley, 50)

Where:

 BP = 0.25 * (1-Alpha) * (Highest + Lowest - High[2] - Low[2]) + Beta * (1+Alpha) * PrevBP - Alpha * BP[2]

If the previous BP > BP and the previous page BP > BP[2] :

 FPeak = previous BP

otherwise:

 FPeak = previous FPeak

If last blood pressure < blood pressure and previous blood pressure < blood pressure[2] :

 FValley = previous BP

otherwise:

 FValley = previous FValley

 Period 2 = 2*period + 5
Alpha = gamma - Sqrt(gamma * gamma - 1),
Gamma= 1/cos(4*Pi*Delta/period),
Beta = cos(2*Pi/period)