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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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