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Price Zone Oscillator for Amibroker (AFL)
Rating:
3 / 5 (Votes 6)
Tags:
oscillator, amibroker
Could not find this indicator in the library so I post it here. It is a price oscillator created by Walid Khalil and David Steckler and could be used to find overbought and oversold condition and also to spot divergence in price. I made a small change form the original formula.
Joeoil
Screenshots
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Indicator / Formula
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 | _SECTION_BEGIN("PZO_ind");// PZO indicator function PZOsc( Period ) { R = sign( Close - Ref( Close, -1 ) ) * Close; VP = EMA( R, Period ); TV = EMA( Close, Period ); return Nz( 100 * VP / TV ); } Period = Param( "PZO period", 14, 2 , 200 ); PZO = PZOsc( Period ); Plot( PZO, "PZO" + _PARAM_VALUES(), colorBlue, styleThick ); // grid lines PlotGrid( 60 ); Plot( 40, "", colorLime ); Plot( -40, "", colorRed ); PlotGrid( -60 ); _SECTION_END(); |
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very interresting to see the down / up cycles
tx ;)