OPEN-SOURCE SCRIPT
IU Ocean Oscillator
IU Ocean Oscillator is a momentum-based oscillator designed to identify trend exhaustion and potential reversals. This indicator is calculated using:
- Acceleration Factor (AF): Measures the rate of change in price momentum.
- Volatility Expansion (VE): Captures market volatility over a given period.
- Trend Exhaustion Index (TEI): Normalized ratio of AF and VE, scaled between 0 and 100.
- Signal Line: A smoothed moving average of the TEI for better trend clarity.
User Inputs
- Lookback Period: Defines the number of bars used for calculations.
- Overbought Level: Sets the threshold for overbought conditions (default: 85).
- Oversold Level: Sets the threshold for oversold conditions (default: 15).
- Show Acceleration Factor: Option to display the raw TEI values.
Key Features:
- Overbought and oversold levels to identify potential reversal zones.
- Gradient-colored signal line to visualize trend strength.
- Optional display of the Acceleration Factor for advanced analysis.
- Unique oceanic theme with dynamic elements like coral, bubbles, and blowfish.
This oscillator helps traders gauge trend strength, exhaustion, and possible reversals, making it useful for various trading strategies.
- Acceleration Factor (AF): Measures the rate of change in price momentum.
- Volatility Expansion (VE): Captures market volatility over a given period.
- Trend Exhaustion Index (TEI): Normalized ratio of AF and VE, scaled between 0 and 100.
- Signal Line: A smoothed moving average of the TEI for better trend clarity.
User Inputs
- Lookback Period: Defines the number of bars used for calculations.
- Overbought Level: Sets the threshold for overbought conditions (default: 85).
- Oversold Level: Sets the threshold for oversold conditions (default: 15).
- Show Acceleration Factor: Option to display the raw TEI values.
Key Features:
- Overbought and oversold levels to identify potential reversal zones.
- Gradient-colored signal line to visualize trend strength.
- Optional display of the Acceleration Factor for advanced analysis.
- Unique oceanic theme with dynamic elements like coral, bubbles, and blowfish.
This oscillator helps traders gauge trend strength, exhaustion, and possible reversals, making it useful for various trading strategies.
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Feragatname
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