OPEN-SOURCE SCRIPT
Andean Oscillator (alexgrover) / Owl of Profit remake
This strategy uses the Andean Oscillator, a technical indicator designed for trend analysis, based on online algorithms for trend detection. Special thanks to alexgrover for the original concept and work!
This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)
creativecommons.org/licenses/by-nc-sa/4.0/
© alexgrover
Original post:
alpaca.markets/learn/andean-oscillator-a-new-technical-indicator-based-on-an-online-algorithm-for-trend-analysis/
Features:
Calculates Bullish and Bearish components using advanced EMA envelope calculations.
Generates signals based on trend strength:
Long: When Bullish strength exceeds Bearish strength.
Short: When Bearish strength exceeds Bullish strength.
Includes a customizable Signal Line for additional trend confirmation.
Fully visualized in a separate panel for easy analysis.
Customization Options:
Adjust Length for EMA envelope sensitivity.
Modify Signal Length for smoother or more reactive signal line behavior.
This strategy is intended for demonstration and educational purposes. Use it to analyze market trends or as a foundation for further refinement.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)
creativecommons.org/licenses/by-nc-sa/4.0/
© alexgrover
Original post:
alpaca.markets/learn/andean-oscillator-a-new-technical-indicator-based-on-an-online-algorithm-for-trend-analysis/
Features:
Calculates Bullish and Bearish components using advanced EMA envelope calculations.
Generates signals based on trend strength:
Long: When Bullish strength exceeds Bearish strength.
Short: When Bearish strength exceeds Bullish strength.
Includes a customizable Signal Line for additional trend confirmation.
Fully visualized in a separate panel for easy analysis.
Customization Options:
Adjust Length for EMA envelope sensitivity.
Modify Signal Length for smoother or more reactive signal line behavior.
This strategy is intended for demonstration and educational purposes. Use it to analyze market trends or as a foundation for further refinement.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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