This is an oscillator that makes calculations based on the OHLC (open, high, low, close) of a candlestick.
The indicator can be used to identify trend.
- If the value of the indicator is above 0 = uptrend,
- If the value of the indicator is below 0 = downtrend.
The indicator can be used to provide sell and buy signals as well. A cross of the 0 upwards is a buy signal and vice versa.
- You can adjust the period.
- You can specify if the indicator is to take the volume into account or not.