A centered oscillator, with three distinguishing features:
1) Tertiary logic is used to generate an oscillation signal
2) Multiple oscillation signals are displayed at the same time (a cloud of wavy, translucent bands)
3) A single oscillation signal shows the sum total of the individual oscillations
See the comments at the beginning of the script for a complete description.
1) Tertiary logic is used to generate an oscillation signal
2) Multiple oscillation signals are displayed at the same time (a cloud of wavy, translucent bands)
3) A single oscillation signal shows the sum total of the individual oscillations
See the comments at the beginning of the script for a complete description.
Versionshinweise:
Default behavior is the same...
Added a "Tertiary Filter" which averages the tertiary output of several bars. User option "Lookback" now defines how many bars to average (back in time), rather than the tertiary output of two bars, separated in time by Lookback bars.
If Lookback is set > 1, the Tertiary Filter brings back some high frequency content to the tertiary results, thus tracking price oscillations closer. Also, it can help bring back the convergence/divergence relationship previously obscured.
Start with Lookback = 2, and see if it helps your interpretation of oscillation results. Changes are more obvious in the "flow" based oscillation types (flow, power, admit, and resist). If Lookback is set too high, an error may occur because the Tertiary Filter is computationally intense.
Added a "Tertiary Filter" which averages the tertiary output of several bars. User option "Lookback" now defines how many bars to average (back in time), rather than the tertiary output of two bars, separated in time by Lookback bars.
If Lookback is set > 1, the Tertiary Filter brings back some high frequency content to the tertiary results, thus tracking price oscillations closer. Also, it can help bring back the convergence/divergence relationship previously obscured.
Start with Lookback = 2, and see if it helps your interpretation of oscillation results. Changes are more obvious in the "flow" based oscillation types (flow, power, admit, and resist). If Lookback is set too high, an error may occur because the Tertiary Filter is computationally intense.