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Open Oscillator indicator calculates Open price change dynamics for a specified period of time, with minimum and maximum Open prices for the range, relative to the current values, as well as two exponential smooth components.
This indicator is based on "Ichimoku", and with its additional and useful features, it can help traders to get the right positions and help analysts to have an accurate analysis.
Additional features used in this indicator are:
It has two extra KijunSen that user can adjust the period and properties of their lines.(eg 103 and 207)
It has a QualityLine and DirectionLine, which is the same KijunSen that shift 26 Candle to the front and back.
Using these two lines can be a great help in Trading and analysis.
There is a separate "KijunSen" and "TenkanSen" With different settings for shifting forward or backward to the user's desired number
Adjust and modify the Kumo and Chikou and TenkenSen and extra KijunSen and QualityLine and DirectionLine shift to the desired value.
Adjust and change the color of the Kumo.
Show the maximum and minimum Price lines for Last month on the chart.
These two lines are very powerful and strong resistance and support.
All features above have the ability to enable or disable, And the user can change their properties, such as color, thickness and type of lines.
Polychromatic Momentum Extended indicator
Denis Meyers that invented Polychromatic Momentum, describes it as:
Momentum is defined as the difference, or percent change, between the current bar and a bar some lookback period in the past. The major problem with using momentum based indicators is that the optimum lookback period seems to change over time creating losses with the current chosen lookback period.
To avoid the errors due to a single lookback period we create an indicator that takes an weighted average of all significant lookback periods for the tradable. We named this indicator polychromatic because poly means many and chromatic means colors. Thus, Polychromatic Momentum for this indicator translates into the sum of many Momentums.
PDI (Price Difference) is a simple signal indicator of the price difference between the previous and the current bars. It displays as signal marks the candlesticks, on which the previous Applied price is higher than the current one by the pre-defined Price difference. If the price difference is positive, the mark will be placed on the Low price of the current candlesticks. If it is negative - on the High price.
The SZO (Sentiment Zone Oscillator) indicator shows the market sentiment (activity and direction) and zones of excessive activity (overbought/oversold zones). It can display a dynamic channel, beyond which deals are seen as undesirable because of the high probability of a change in sentiment and of reversal.
If the indicator line moves beyond the channel and at the same time enters the overbought/oversold zone, this may mean that the market trend can change soon. The indicator often warns of such a possible change in advance, so it is advisable to use it in combination with another confirmation indicator.