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Price Zone Oscillator for Amibroker (AFL)

joeoil about 13 years ago 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

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Indicator / Formula

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_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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