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Argo AoC

The indicator implements Awesome Oscillator operation principles. It reveals what is happening at the current moment with the market's driving force. Thus, we can apply the same trading rules to it. The difference from АО is that it does not lag. This is especially noticeable after a strong market movement. This feature provides the indicator with a considerable advantage over Awesome Oscillator. It also displays "classic divergence" and "reverse divergence". The line of the last "reverse divergence" is extended in the chart's main window (it is colored in Aqua in the screenshot). Its breakthrough provides a signal for the market reversal or continuation of the price movement.

Since this line is a strong support/resistance line, DelLine function has been provided in the indicator. Disable this function if you want this line to remain on the screen when moving to another time frame or to be colored in various colors (each one for specific time frame) for ease of viewing and analysis.

Other settings:

  • DivergenceAlertON - new divergence alert.
  • Divergence - enable/disable determining the divergence.
  • drawIndicatorTrendLines - drawing divergence lines in the chart's main window.
  • drawPriceTrendLines - drawing divergence lines in the indicator window.
  • DrawLine - drawing reverse divergence continuation lines in the chart's main window.
  • BearishColorLine - color of the bearish divergence lines.
  • BullishColorLine - color of the bullish divergence lines.
  • ColorLine - color of the reverse divergence "continuation" line (DelLine=false).
  • Bar - number of the bars, at which the divergence is determined.
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