The Price Zone Oscillator measures if the most recent closing price is above or below the preceding closing price.

It is indicator is calculated as a ratio between two exponential moving averages. It is mostly frequently used to identify overbought/oversold price conditions. It can also provide clues about price reversals. Like most oscillators signals are generated when stocks reach overbought or oversold extremes. 

It is calculated by dividing the current closing value of the X-period exponential moving average of the current price by the total close value of the X-period exponential moving average.

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