HPotter

Absolute Price Oscillator (APO) Backtest 2.0

The Absolute Price Oscillator displays the difference between two exponential
moving averages of a security's price and is expressed as an absolute value.
How this indicator works
APO crossing above zero is considered bullish , while crossing below zero is bearish .
A positive indicator value indicates an upward movement, while negative readings
signal a downward trend.
Divergences form when a new high or low in price is not confirmed by the Absolute Price
Oscillator (APO). A bullish divergence forms when price make a lower low, but the APO
forms a higher low. This indicates less downward momentum that could foreshadow a bullish
reversal. A bearish divergence forms when price makes a higher high, but the APO forms a
lower high. This shows less upward momentum that could foreshadow a bearish reversal.

You can change long to short in the Input Settings
WARNING:
- For purpose educate only
- This script to change bars colors.
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Comments

How is this different from a MACD calculated with EMA ?
Reply
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