Argo AO W
The indicator has been developed to enhance the features of Argo AO basic. However, according to the Market rules, "all indicators that are necessary for operation should be included in the product's resources". Therefore, I have had to modify it to let the product become an independent tool, though it has limited capabilities without "Argo AO basic".
The indicator simplifies the wave labeling. Two labeling versions are provided (while only case #1 is viable with conventional АО).
- The beginning of the next wave is considered to start when the indicator crosses the zero line in the opposite direction.
- The beginning of the next wave is considered to start when the indicator moves outside of AO channel border.
There is an ability to display two labelings simultaneously or separately. Also, the pivot of the generated max-min waves is shown.
The variety of settings (when using "Argo AO basic") allows generation of many combinations. That is display of the divergence without installing "Argo AO basic" with changed parameters (including МА calculation periods, allowing users to receive quick and standard MACD calculated according to the equation (High + Low) / 2 in Classical and Speed modes), as well as simultaneous application of several indicators with different settings and display variants with all arising consequences. Since "Argo AO basic" in its Digital version is close to АС indicator parameters, it is possible to receive a full-fledged Williams' system.
Such functionality will be useful for all traders using АО, АС indicators, as well as wave labeling and wave divergence in their trading activity.
- shortPeriod - fast МА period (not used with conventional АО and Digital).
- longPeriod - slow МА period (not used with conventional АО and Digital).
- Strength - deviation of АО channel lines (not used with conventional АО).
- Style_AO - calculation type of "Argo AO basic" Classical; Speed; Digital (not used with conventional АО).
- Divergence - display divergence in the chart's main window (false by default, not used with conventional АО).
- LevelWaves - draw case "2" waves (not used with conventional АО).
- ZeroWaves - draw case "1" waves.
- DrawPivot - draw the pivot.