PROTECTED SOURCE SCRIPT
EWO[Giskard]
Elliott Wave Oscillator with breakout bands
The Elliott Wave Oscillator (EWO) is defined as
EWO = SMA(fast-period, source) – SMA(slow-period, source)
where source is hl2, fast-period is 5 and slow-period is 35.
if price is in an uptrend, and this uptrend has been stronger over the previous five candles relative to the previous 35, then the EWO will be positive. If price is in an uptrend, but price has been in a stronger overall uptrend over the past 35 candles relative to the previous five, the EWO will be negative. Likewise, we can apply this to downtrends.
The Oscillator Break Out Bands provide an Up Band and a Low Band. In a Wave Three, the EWO needs to be above the Break Out
Band. The default strength of the band is 100%, but 80% could be also a good configuration.
Hint: Use together with the XTL[Giskard] indicator
The Elliott Wave Oscillator (EWO) is defined as
EWO = SMA(fast-period, source) – SMA(slow-period, source)
where source is hl2, fast-period is 5 and slow-period is 35.
if price is in an uptrend, and this uptrend has been stronger over the previous five candles relative to the previous 35, then the EWO will be positive. If price is in an uptrend, but price has been in a stronger overall uptrend over the past 35 candles relative to the previous five, the EWO will be negative. Likewise, we can apply this to downtrends.
The Oscillator Break Out Bands provide an Up Band and a Low Band. In a Wave Three, the EWO needs to be above the Break Out
Band. The default strength of the band is 100%, but 80% could be also a good configuration.
Hint: Use together with the XTL[Giskard] indicator
Script protegido
Este script se publica como código cerrado. Sin embargo, puede utilizarlo libremente y sin limitaciones: obtenga más información aquí.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Script protegido
Este script se publica como código cerrado. Sin embargo, puede utilizarlo libremente y sin limitaciones: obtenga más información aquí.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.