Had to re-release due to moderation.
This happens to be my first open source indicator, hope you all enjoy it!
This indicated is ported from November 2019 issue of TASC. “The Oscillator” in this issue, author Vitali Apirine introduces a new indicator created by combining the oscillator and the . He describes the new indicator as a momentum oscillator and explains that it allows the trader to define overbought and oversold levels similar to the classic but based on the .
-You can enable bar coloration for trade state (signal conditions setup in the "long" and "short" variables).
-You can choose histogram or columns for the convergence/divergence display.
-You can turn on/off and adjust the overbought / oversold zones.
-You can choose what type of moving average to use in the calculation from a small selection of options. This gives you more flexibility to adapt the indicator to your needs.
👍 We hope you enjoyed this indicator and find it useful! We post free crypto analysis, strategies and indicators regularly. This is our 70th script on Tradingview!
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In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.