A product of MooMooForex’s research, the Price Delta Oscillator shows you at a glance the scale of the change in price for each bar, or a range of bars. With support for consecutive bars, it is easy to confirm the direction and scale of runs, and compare them to previous runs.
With the choice of three different units to represent price change in, it is even easier to look out for significant changes in price.
- Units – Units to measure the price change in. Possible values are Percent, Standard Deviation, or Pips. The default value is Percent.
- Bars – The number of bars that must be checked to calculate the change in price. The default value is 1.
- StdDev Range – The number of bars to calculate the standard deviation on. The default value is 48.
- Consecutive Bars – Only tally back the bars that are going in the same direction as the most recent bar until an opposite bar is reached. The default value is false.
- Units(Any), Bars(1), Consecutive Bars(false) – When you see a price move that is too excessive in a single bar, expect a major retracement.
- Units(Any), Bars(5+), Consecutive Bars(true) – Look out for runs to indicate the start of possible trends, or if the moves get too big, possibly a minor retracement.
- Ignore signal if this retracement is a correction of a previous price move.
This indicator was developed exclusively by MooMooForex. Additional reading may be found inside the Research blog.