Author
ScriptorPublished date
Oct 25, 2018
Effort Result oscillator displays correlation of the price change speed to the maximum volume for the specified time interval.
It has one configurable parameter:
Calculation:
ER = ROC / MaxVol
where:
ROC = 100.0 * (Price / Price[Period]-1)
Price = SMA(Close, Period)
MaxVol - maximum volume in the Period range
The indicator has a peculiarity: sharp spikes of the oscillator values often forecast a price reversal towards the oscillator reversal
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