Oscillator Phase Change Index is the market phase change index that helps identify the current phase (stage) of the market.

It has four configurable parameters:

  • Period - calculation period
  • Applied price - calculation price
  • Overbought - overbought level
  • Oversold - oversold level

Calculation:

PCI = 100 * Up/(Up+Dn)

where:

if Price[i-Period] > Gradient
Up = Sum(Abs(Price[i-Period] - Gradient)) 
if Price[i-Period] < Gradient
Dn = Sum(Abs(Price[i-Period] - Gradient)) 
Gradient[i] = Price[i-Period] + Momentum[i] * i
Momentum[i] = (Price[i]-Price[i-Period+1]) / Period
Price -- Applied price