Overbought Oversold MT5 Indicator

The indicator draws a Moving Average relative to ATR and overbought/oversold levels in a separate window.

Calculation formula:

where:

• MA – the Moving Average of the difference between Close and Low prices for the selected period;
• ATR – Average True Range with the specified calculation period.

It has four input parameters:

• Period – calculation period;
• Method – MA calculation method;
• Overbought – overbought level;
• Oversold – oversold level.

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