This indicator calculates how much has an instrument won or lost in percentage terms on each bar displayed in the chart.

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• Identify market patterns
• Find decisive price movements
• Be suspicious about overbought/oversold situations

It is an extremely easy to use indicator...

• The blue histogram represents winning bars
• The red histogram represents losing bars
• The gray line represents the average win/loss per bar
  
• Labels are plotted on each bar displaying the % win/loss for the bar
  

...with straightforward trading implications, depending your trading approach.

• You can buy after an oversold bar takes place
• You can short after an overbought bar takes place
• You can buy after a decisive winning bar
• You can short after a decisive losing bar

Input Parameters

• Max History Bars: Number of bars to evaluate when the indicator is loaded
• MA Period: Averaging period to calculate the average price movement in the oscillator
  
  

Support

I am happy to provide free products but given my limited time, they come without support of any kind. My apologies.

Author

Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.