Chaikin's Oscillator (CHO) is the difference of moving averages of Accumulation/Distribution.
"The concept of this oscillator is based on three main theses.
As there are no correct methods of technical analysis, I would recommend you using this oscillator along with other technical indicators. The reliability of short-term and medium-term trade signals will be higher if you use a Chaikin's oscillator together with, for example, Envelopes based on a 21-day moving average and some overbought/oversold oscillator.
The most important signal arises when the prices reach a maximum or a minimum level (especially on the overbought/oversold level), but the Chaikin's oscillator can't overcome its previous extremum and so it turns around.
Another way of using Chaikin's oscillator implies the following: a change in its direction is a signal for purchase or a sale, but only if it coincides with the price trend direction. For example, if a share is on the rise and its price is higher than a 90-day moving average, then an up-turn of the oscillator curve in the area of negative values can be regarded as a signal for purchase (but the share price must be higher than a 90-day moving average - not less).
A down-turn of the oscillator curve in the area of positive values (above zero) can be regarded as a signal for sale, but the share price must be lower than the 90-day moving average of closing prices."
To calculate the Chaikin's oscillator, you must subtract a 10-period exponential moving average of Accumulation/Distribution indicator from a 3-period exponential moving average of the same indicator.
CHO = EMA (A/D, 3) - EMA (A/D, 10)
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/19
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