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Overbought/Oversold Indicator
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=32888
Forum: 17 · Topic 32888 · 8 post(s)
Overbought/Oversold Indicator
Apprentice · Thu Mar 07, 2013 4:19 pm
The Overbought/Oversold (“OB/OS”) indicator is a market breadth indicator based on the smoothed difference between advancing and declining currency pairs against the base currency.
As with all OB/OS-type indicators, extreme readings may be a sign of a change in investor expectations and may not be followed by the expected correction.
Re: Overbought/Oversold Indicator
Blackcat2 · Thu Mar 07, 2013 5:13 pm
What is the overbought and oversold values? Can it be customised?
Cheers.. BC
Re: Overbought/Oversold Indicator
Apprentice · Thu Mar 07, 2013 6:23 pm
Not really. I add an additional parameter. Please update. It seems 20 percent of total number of istruments is a good start. OB / OS level can vary depending on the number of Instruments included in the calculation.
Re: Overbought/Oversold Indicator
Apprentice · Wed May 03, 2017 2:47 pm
Indicator was revised and updated.
Re: Overbought/Oversold Indicator
xyz1453 · Fri May 05, 2017 9:10 pm
Hi, Is the mql4 version of this indi available?
Re: Overbought/Oversold Indicator
Apprentice · Sat May 06, 2017 3:59 am
No.
Your request is added to the development list, Under Id Number 3795 If someone is interested to do this task, please contact me.
Re: Overbought/Oversold Indicator
Alexander.Gettinger · Wed Aug 16, 2017 5:14 pm
xyz1453 wrote: Hi, Is the mql4 version of this indi available?
Yes. Try this: viewtopic.php?f=38&t=23087&p=39787
Re: Overbought/Oversold Indicator
Apprentice · Wed Feb 21, 2018 6:09 am
The Indicator was revised and updated.