Category Oscilators Published on 18/01/2023

SZO (Sentiment Zone Oscillator)

An update for this algorithm is currently pending moderation. Please revisit this page shortly to access the algorithm's latest version.

Description

The SZO (Sentiment Zone Oscillator) indicator shows the market sentiment (activity and direction) and zones of excessive activity (overbought/oversold zones). It can display a dynamic channel, beyond which deals are seen as undesirable because of the high probability of a change in sentiment and of reversal.

If the indicator line moves beyond the channel and at the same time enters the overbought/oversold zone, this may mean that the market trend can change soon. The indicator often warns of such a possible change in advance, so it is advisable to use it in combination with another confirmation indicator.

Source Code

mfejza

Joined on 25.01.2022

Distribution: Free
Language: C#
Trading platform: cTrader Automate
File name: mSZO.algo
Rating: 5
Installs: 402
Modified: 02/08/2023 19:22

Download

Note that publishing copyrighted material is strictly prohibited. If you believe there is copyrighted material in this section, please use the Copyright Infringement Notification form to submit a claim.

Comments

mfejza · 1 year ago

using System;
using cAlgo.API;
using cAlgo.API.Collections;
using cAlgo.API.Indicators;
using cAlgo.API.Internals;

namespace cAlgo
{
    [Levels(0, -7, +7)]
    [Indicator(IsOverlay = false, AccessRights = AccessRights.None)]
    public class mSZO : Indicator
    {
        [Parameter("Period SZO (14)", DefaultValue = 14)]
        public int inpPeriodSZO { get; set; }
        [Parameter("Show Levels (yes)", DefaultValue = true)]
        public bool inpShowDLev { get; set; }
        [Parameter("Show Mid Level (yes)", DefaultValue = true)]
        public bool inpShowMidLev { get; set; }
        [Parameter("Period Levels  (30)", DefaultValue = 30)]
        public int inpPeriodLevels { get; set; }
        [Parameter("Percent Level (95.0)", DefaultValue = 95.0)]
        public double inpPercentLevel { get; set; }

        [Output("SZO", IsHistogram = false, LineColor = "Black", PlotType = PlotType.Line, LineStyle = LineStyle.Solid, Thickness = 1)]
        public IndicatorDataSeries outSZO { get; set; }
        [Output("Top", IsHistogram = false, LineColor = "Red", PlotType = PlotType.Line, LineStyle = LineStyle.Solid, Thickness = 1)]
        public IndicatorDataSeries outTop { get; set; }
        [Output("Bottom", IsHistogram = false, LineColor = "Red", PlotType = PlotType.Line, LineStyle = LineStyle.Solid, Thickness = 1)]
        public IndicatorDataSeries outBottom { get; set; }
        [Output("Middle", IsHistogram = false, LineColor = "Gray", PlotType = PlotType.Line, LineStyle = LineStyle.Solid, Thickness = 1)]
        public IndicatorDataSeries outMiddle { get; set; }

        private IndicatorDataSeries _score, _szo, _hhlvl, _lllvl, _range, _rangeproc;
        private ExponentialMovingAverage _smooth1, _smooth2, _smooth3;


        protected override void Initialize()
        {
            _score = CreateDataSeries();
            _szo = CreateDataSeries();
            _hhlvl = CreateDataSeries();
            _lllvl = CreateDataSeries();
            _range = CreateDataSeries();
            _rangeproc = CreateDataSeries();
            _smooth1 = Indicators.ExponentialMovingAverage(_score, inpPeriodSZO);
            _smooth2 = Indicators.ExponentialMovingAverage(_smooth1.Result, inpPeriodSZO);
            _smooth3 = Indicators.ExponentialMovingAverage(_smooth2.Result, inpPeriodSZO);
        }

        public override void Calculate(int i)
        {
            _score[i] = (i>1 && Bars.ClosePrices[i] > Bars.ClosePrices[i-1] ? +1 : -1);
            _szo[i] = 100.0 * ((3 * _smooth1.Result[i] - 3 * _smooth2.Result[i] + _smooth3.Result[i]) / inpPeriodSZO);
            _hhlvl[i] = _szo.Maximum(inpPeriodLevels);
            _lllvl[i] = _szo.Minimum(inpPeriodLevels);
            _range[i] = _hhlvl[i] - _lllvl[i];
            _rangeproc[i] = _range[i] * (inpPercentLevel / 100.0);

            outSZO[i] = _szo[i];
            outTop[i] = inpShowDLev ? _lllvl[i] + _rangeproc[i] : double.NaN;
            outBottom[i] = inpShowDLev ? _hhlvl[i] - _rangeproc[i] : double.NaN;
            outMiddle[i] = inpShowDLev && inpShowMidLev ? (_lllvl[i] + _rangeproc[i] + _hhlvl[i] - _rangeproc[i]) / 2 : double.NaN;
        }
    }
}

Copyright © 2024 Spotware Systems Ltd. All rights reserved.
cTrader Ltd offers through its group of companies the cTrader platform. The information on this website is for general informational purposes only and does not constitute financial or investment advice. cTrader does not solicit retail investors. Reliance on this information is at your own risk.