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#1 Selling Amibroker Plugin featuring:
Price Zone Oscillator for Amibroker (AFL)
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
_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();1 comments
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very interresting to see the down / up cycles
tx ;)