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SZO

Most technical analysis tools help traders to identify price entry points and if the tool is good enough it will help the trader to catch the trend from the beginning.

But most of the time leading technical analysis tools will put the trader in a position where the trend does not last for a long time. The reason for this might be lack of sentimental power. That is why it is important for any trader to have a tool that measures sentimental force inside the market.

At Technical Analysis of Stocks and Commodities Magazine Mr. Walid Khalil, MFTA, CFTe, CETA introduced his Sentimental Zone Oscillator (SZO) as a solution for this problem. To know more about SZO read the article HERE.


How does it work

  • SZO finds the percent of the number of up closing price bars relative to all the bars in a previous period of time.
  • When the SZO goes above +7 or +9, it indicates extreme optimism as there is more buyers than sellers and this could be the beginning of a new downtrend.
  • When the SZO goes under -7 or -9, it indicates extreme pessimism as there is more sellers than buyers and this could be the beginning of a new uptrend.
  • Default number of candles used in calculation is 14 candles and we suggest not changing it except for a good reason.
  • As a leading oscillator, divergence between the price line and SZO could help you to find a reversal area in trend direction faster.


Features

  • User can switch between both ordinary and dynamic levels.
  • Buy, Sell arrows to help identifying SZO pessimism, optimism signals.
  • Sound, email alerts depending on user choice.
  • Well-designed style that users can control.


Settings

  • SZO_Bars: number of bars or candles used in calculation (default is 14 bars).
  • SZO_Price: price used in calculation (Open, High, Low…) (default is Close).
  • Level_Style: switch between using ordinary fixed levels and dynamic levels.
  • DynamicLvl_Bars: number of bars used in calculating dynamic levels.
  • DynamicLVL_Percent_1: percent used in calculating first and last dynamic levels.
  • DynamicLVL_Percent_2: percent used in calculating second and fourth dynamic levels.
  • Show_Signal: choose to show or hide SZO signals.
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版本 1.2 - 2016.03.23
New features in SZ0 v1.2:
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- Changed the code used in calculating the main formula.
- User can switch between both Ordinary and Dynamic levels.
- Buy, Sell arrows to help identifying SZO pessimism, optimism signals.
- Sound, email alerts depending on user choice.
- Well-designed style that user can control.