Overbought Oversold MT5 Indicator

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

Calculation formula:

Overbought_Oversold = (MA/ATR)*100

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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Overbought Oversold MT5 Indicator

 

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