DiNapoli Price Oscillator MT4 Indicator
choose amount of bars to calculate the formula
choose type of average, which is used in counting
choose price (open, close, high, low), which is used in counting
choose shift of average
calculate and display overbought and oversold levels (60% and 100%)
Levels are counted using special formula, which is used standard deviation function. However levels are displayed correctly and results are the same as results received using manual methods. Level factors were specially selected and are the most suitable to use.
DiNapoli Price Oscillator defines the price movement cycles by eliminating the trend factor. It simply calculates the difference between the close value and the simple moving average of the close value. The oscillator also displays the oversold and overbought levels. If you are using bigger time frames, you should change the period to a rather small one.
How to Trade With DiNapoli Price Oscillator:
-Wait for DiNapoli Price Oscillator to move above the oversold level.
-Wait for DiNapoli Price Oscillator to move below the overbought level.