Category Oscilators  Published on 18/01/2023

SZO (Sentiment Zone Oscillator)

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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.
mfejza's avatar
mfejza

Joined on 25.01.2022

  • Distribution: Free
  • Language: C#
  • Trading platform: cTrader Automate
  • File name: mSZO.algo
  • Rating: 5
  • Installs: 240

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mfejza's avatar
mfejza · 11 months 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;
        }
    }
}
 
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