A non-normalized oscillator. The indicator is calculated using the following formula:
Percentage Price Oscillator = (FastMA – SlowMA) / SlowMA
According to the author:
- It shows more accurate signals of divergence between the price and the value of the oscillator;
- It more accurately identifies price extremes, its movements are more dynamic.
The indicator is implemented with a signal line, so it can be used similarly to the stochastic oscillator.
This indicator was first implemented in MQL4 and published in Code Base 08.03.2008.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging price series for intermediate calculations without using additional buffers”.
MT5 Indicator – Download Instructions
Percentage Price Oscillator is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Percentage Price Oscillator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Percentage Price Oscillator.mq5?
- Download Percentage Price Oscillator.mq5
- Copy Percentage Price Oscillator.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Percentage Price Oscillator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Percentage Price Oscillator.mq5 is available on your Chart
How to remove Percentage Price Oscillator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: