Price action oscillator

v10.3
Price action oscillator

This is a simple price action indicator made for detecting sudden price movement for quick in and out trading (scalping).

You can select the way the signal line is calculated (CalcMethod = different type of moving averages) and on how many periods the price is analyzed (CalcPeriod = 50 periods by default).

Translated from a MT4 indicator.

 

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Jan Wind • 31 days ago #

    Thanks for the indicator. Seems to indicate the start of the short term trend quite well, (short term trend reverse), but following it requires more indicators. It is also pretty bumpy in its movements, well at least when selecting 5 minutes bars. I prefer Wilders Average therefore in this indicator.
    It seems also a good momentum indicator, maybe even better.
    If the indicator remains at the zero line, (you see this for example quite often in the evening for the DAX), (minimal price action) and no momentum, not very likely a good moment for trading.

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