This indicator really is the KST indicator presented by Martin Pring. the KST indicator is a weighted summed rate of change oscillator that is designed to identify meaningful turns. Various smoothed rate of change indicators can be combined to form different measurements of cycles.
1. A 5-period ROC weighted 4.
2. An 8-period ROC weighted 3.
3. A 13-period ROC weighted 2.
4. A 21-period ROC weighted 1.
KST= (4 × Average(ROC(price,5),3) + (3 × Average (ROC(price,8),3)
+ (2 × Average (ROC(price,13),5) + (1 × Average (ROC(price,21),8)