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Constance Brown liked to use this by taking the first break of the zero line by the 3/10 oscillator in the direction of the trend-line relative to above or below zero. The similarities between the histogram and the MACD histogram are striking and its use is almost the same. Useful for seeing divergence in the same way noted by DR             . Elder, take the first opposite colored bar after divergence which he stated was to have one peak lower than the previous but must break below zero in between. (opposite is true for bearish play)
I offer no updates to its use. this is the 3/10 oscillator popularized by Constance Brown. The only customization done here is cosmetic. This is just a copy for the user who saw my screen and wanted it exactly how mine was.
Enjoy responsibly, and as always, if you use this, take responsibility for your actions for good or ill, because I cannot be.
Good trading all,
Shiroki
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//@version=2
study("3/10 Osc",shorttitle="3/10", precision=5)
three   = sma(close,input(3, title="Short period"))
ten     = sma(close,input(10,title="Long period"))
osc     = three-ten
siglen  = input(16, title="Signal line")
avg     = sma(osc,siglen)
//red

salmon = #FA8072

//green

mintgreen = #00FF40

//blue

dodgerblue = #1E90FF

plot(siglen==0?na:osc, color=mintgreen,transp=0,linewidth=2,title="3/10 oscillator")
plot(siglen==0?0:avg, color=rising(avg,1)?dodgerblue:salmon, transp=40,linewidth=4,title="Trend line",style=histogram)
plot(siglen==0?osc:na, color=rising(osc,1)?dodgerblue:salmon,style=histogram, linewidth=4,transp=40)
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