Argo AO basic
This indicator implements the "Awesome Oscillator" operation principles and shows us the current market force situation. It uses the same trading principles but differs from АО in that it has three calculation methods: 1 - classical, 2 - classical without lag and 3 - calculation as a digital filter. Method #3 is the "fastest" one and is interpreted differently from the classical AO. The indicator also displays "classic divergence" and "reverse divergence". The line of the last "reverse divergence" is extended in the main chart window. Its breakout generates a signal for the market reversal or continuation of the price movement.
Since this line is a strong support/resistance line, the indicator features a "DelLine" function which can be disabled, thus allowing not to remove the line from the screen when switching to another time frame for the convenience of analysis. All plotting operations are followed by Alerts that can be received via email.
- shortPeriod - period of fast MA.
- longPeriod - period of slow MA.
Ignored when using method #3.
- Strength - deviation of Oscillator Bands.
- Style_AO - indicator calculation method: 1 - Classical, 2 - Speed, 3 - RBCI.
- Divergence - whether or not to determine divergence.
- drawIndicatorTrendLines - drawing divergence lines in the main chart window.
- drawPriceTrendLines - drawing divergence lines in the indicator window.
- DelLine - deleting reverse divergence continuation lines in the main chart window.
- ColorLine - color of the reverse divergence "continuation" line.