nwesterhuijs wrote: Sat Jun 11, 2022 5:36 pm Not entirely what you are looking for, but maybe of interest. Taking the channel of the ZigZagZug (ZigZagZug.v1.4.mq4) indicator as Fib 0-100 range and not allowing Fib to switch direction (normally when trend is up 0 is low and 100 is high and when trend is down 0 is high and 100 is low, now the bottom of the channel is always 0 and the top is always 100).

So that allows for the creation of an oscillator and when you are in a down trend you need to 100 - OscFib value to get the fib value one is used to. The oscillator is subjected to jurik filtering to make it smooth.

Fibonacci_Oscillator_v1.4_NRW.mq4

And in the bottom window is the resulting oscillator:

It is still intriguing to me, so maybe it can be to others.