Market / MetaTrader 4 / Indicators /

Panda Oscillator

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Published: 27 July 2022

Current version: 1.0

Panda Oscillator

Indicators
VITALI ZYRKO
Version: 1.0

Panda Oscillator is a new author's indicator designed for scalping.

An indicator that gives signals based on the readings of a whole range of standard and proprietary tools.

Main Features of Panda Oscillator:

Analytical functions

It can be used on any currency pairs and time frames;
The indicator does not redraw;
It is a great addition to other indicators;

Graphical capabilities

Occupies the minimum number of places on the chart;
Flexible tinctures;
Easy to learn;

Panda Oscillator consists of ...

The blue line is the RSI indicator;
The orange line is a consolidated RSI indicator based on the T3 RSI;
Dotted lines are the boundaries of the Bollinger Bands;
The blue line is the median line of the Bollinger bands;

The main features of Panda Oscillator

Has a set of indicator for filtering;
The indicator itself shows when it is necessary to enter the market;

Basic settings of Panda Oscillator:

RSI Period - setting the blue line of the RSI;

Bands Period - adjustment of dotted lines;

MA Period - setting the moving average;

Bands Deviations - band deviation;

Bands Shift - shift of bands;

THE USE OF Panda Oscillator IN TRADING:

The signal to enter the market is formed when the consolidated RSI, built on the T3 RSI, leaves the Bollinger bands. It is possible to use the intersection of the T3 RSI with the median line of the Bollinger bands.

Entry into the position is carried out after the appearance of the first bar of the histogram of the corresponding color: blue color - entry to buy, red color - entry to sell.

Exit from the position is carried out after zeroing the bars of the histogram.

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