GAPO - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources - MetaTrader 5 Resources
GAPO (Gopalakrishnan Range Index Oscillator) quantitatively evaluates the volatility of an instrument based on the logarithm of the trading range within an N-day time period.
It is calculated using only price action over a specified time interval (default is 5 days).
It was developed by Jayanthi Gopalakrishnan based on the work of Mandelbrot and is used to measure the dynamic nature of financial markets.
It has one input parameter:
GAPO[i] = Log(max-min)/Log(period)
Where:
Max and Min are the highest and lowest prices within the specified range (Period).
Attachment download
📎 gapo.mq5 (8.19 KB)
Source: MQL5 #20800
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