The MegaFxProfit indicator is a trading signals oscillator that use the median price position according to the recent highest high and lowest low boundaries of the market price.

The oscillator use a small smoothing function to make it more readable and therefore give delayed but clear signals of the market direction.

It could assimilate to a moving average of median price that cut the middle of a Donchian channel to send trading signals. Nothin new here, but I translated it from MT4 version following a request in the trading indicators forum.

The MegaFX indicator plots green and red signal arrows according to the oscillator cross of the zero line. The indicator should be used in conjunction of any other technical analysis or other set of trading indicators.

//PRC_MegaFX Profit | indicator
//04.11.2019
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//converted from MT4 code

// --- settings 
period=21
// --- end of settings 

if barindex>period then 
 hhigh = highest[period](high)
 llow = lowest[period](low)
 mean = (High + Low) / 2.0
 temp = 0.66 * ((mean - llow) / (hhigh - llow) - 0.5) + 0.67 * Ld36
 temp = Min(Max(temp, -0.999), 0.999)
 mega = Log((temp + 1.0) / (1 - temp)) / 2.0 + result / 2.0
 Ld36 = temp
 result = mega
 if result crosses over 0 then 
  r=0
  g=255
  drawarrowup(barindex,result) coloured(r,g,0)
 elsif result crosses under 0 then 
  r=255
  g=0
  drawarrowdown(barindex,result) coloured(r,g,0)
 endif
endif

return result coloured(r,g,0) style(line,2) as "MegaFX Profit", 0 coloured(255,255,0) style(line,3) as "0 level"