Indicator MPO (Midpoint Oscillator) displays price movement without its trend component around its centerpoint. It is displayed as two lines: Price movement line and signal line. Centerline (MidPoint) is zero level of the oscillator.
The indicator has three configurable parameters:
- Period - price line calculation period;
- Smoothing period - signal line calculation period;
- Smoothing method - signal line smoothing method.
Calculations:
MidPoint = 100.0 * (2.0 * Close - Max-Min) / (Max-Min)
Signal = MA(MidPoint,Smoothing period, Smoothing method)
where:
- Max, Min - the highest and the lowest values within Period