MM – indicator for MetaTrader 5
Oscillator MM (Market Mode) allows assessing the market state: In trend state or in cyclic state.
It has three configurable parameters:
- Period – calculation period;
- Delta – coefficient to calculate market waves;
- Fraction – half-width of the channel.
Mode = SMA(BP, Period2) Peak = Fraction * SMA(FPeak, 50) Valley = Fraction * SMA(FValley, 50)
BP = 0.25 * (1-Alpha) * (High + Low - High - Low) + Beta * (1+Alpha) * PrevBP - Alpha * BP
If PrevBP > BP and PrevBP > BP:
FPeak = PrevBP
FPeak = PrevFPeak
If PrevBP < BP and PrevBP < BP:
FValley = PrevBP
FValley = PrevFValley
Period2 = 2*Period + 5 Alpha = Gamma - Sqrt(Gamma*Gamma - 1), Gamma = 1/cos(4*Pi*Delta/Period), Beta = cos(2*Pi/Period)
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