OPEN-SOURCE SCRIPT

Relative Price Oscillator

6 857
Here is a new experimental indicator we've been working on. The idea was to compare two EMA's of period midpoints to the actual closing price. The steps that were taken are listed below:

1.Calculate an EMA based on each period's midpoint ((High * Low) /2) for the last 9 periods.

2.Calculate an EMA based on each period's midpoint for the last 100 periods.

3. Divide the difference of the two EMA's by the closing price. ((EMA1 - EMA2) / Close).

4. Smooth the value from step #3 with an 18 period EMA. Multiply by 1000 for better scaling/visibility.


Using:

Bullish when line is green, bearish when line is red. Buy on first green, then sell on first red.

There is also an option to color the candles based on the RPO line.

免责声明

这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。