If you're looking to enhance your trading strategy, let’s dive into the Track Cyclical oscillator for MetaTrader 5. This handy tool helps you visualize percentage price changes in relation to its moving average, giving you a clearer picture of market trends.
What’s great about the Track Cyclical indicator is its flexibility. It comes with nine customizable parameters that allow you to tailor it to your trading style:
- Period - This defines the calculation period.
- Method - Choose your preferred calculation method.
- Applied Price - Select the price you want to apply the indicator to.
- Exceptional Overbought - Indicates overbought conditions during significant fluctuations.
- Abnormal Overbought - Marks overbought areas in abnormal market situations.
- Normal Overbought - Highlights overbought zones in regular market conditions.
- Normal Oversold - Points out oversold areas during standard fluctuations.
- Abnormal Oversold - Detects oversold conditions in unusual market scenarios.
- Exceptional Oversold - Shows oversold regions during extreme volatility.
Calculation:
TC = 100.0 * (Applied Price - MA) / MA
Where:
MA - SMA(Applied Price, Period, Method)
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