OPEN-SOURCE SCRIPT
Updated Market Trend Oscillator
Market Trend Oscillator segments the market into ranged bound and trending aspect. The threshold level segregates both types of market. With higher level, both the risk and reward lower down.
The MTO indicator, is based on Standard Deviation, difference between highest high and lowest low, ATR and ADR. There are two different volatility aspect which are:
The minimum of both these aspects gives an insight into the volatility of the market. To segregate a dynamic value with ATR and ADR is used with the threshold level. Moreover, the volatilities can be smoothed to have a smoother decision making.
The MTO indicator, is based on Standard Deviation, difference between highest high and lowest low, ATR and ADR. There are two different volatility aspect which are:
- Volatility according to the movement of one price e.g. closing price.
- Volatility according to the candles.
The minimum of both these aspects gives an insight into the volatility of the market. To segregate a dynamic value with ATR and ADR is used with the threshold level. Moreover, the volatilities can be smoothed to have a smoother decision making.
Release Notes
Market Trend Oscillator segments the market into ranged bound and trending aspect. The threshold level segregates both types of market. With higher level, both the risk and reward lower down.The MTO indicator, is based on Standard Deviation, difference between highest high and lowest low, ATR and ADR. There are two different volatility aspect which are:
- Volatility according to the movement of one price e.g. closing price.
- Volatility according to the candles.
The minimum of both these aspects gives an insight into the volatility of the market. To segregate a dynamic value with ATR and ADR is used with the threshold level. Moreover, the volatilities can be smoothed to have a smoother decision making.
Release Notes
Market Trend Oscillator segments the market into ranged bound and trending aspect. The threshold level segregates both types of market. With higher level, both the risk and reward lower down.The MTO indicator, is based on Standard Deviation, difference between highest high and lowest low, ATR and ADR. There are two different volatility aspect which are:
- Volatility according to the movement of one price e.g. closing price.
- Volatility according to the candles.
The minimum of both these aspects gives an insight into the volatility of the market. To segregate a dynamic value with ATR and ADR is used with the threshold level. Moreover, the volatilities can be smoothed to have a smoother decision making.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.