The oscillator is used by Linda Bradford Raschke.
Basically, it's a MACD with 3/10/16 settings without the histogram (difference between fast and slow line), instead, the shown histogram is based on the fastline . The color of the lines will tell you if the line is falling (red) or rising (green).
But in this indicator, you can activate Histogram and cross signals.
In histogram mode, you can find 4 colors which show us the strength of each histogram compared to the previous one.
Basically, it's a MACD with 3/10/16 settings without the histogram (difference between fast and slow line), instead, the shown histogram is based on the fastline . The color of the lines will tell you if the line is falling (red) or rising (green).
But in this indicator, you can activate Histogram and cross signals.
In histogram mode, you can find 4 colors which show us the strength of each histogram compared to the previous one.
Release Notes:
In this version, it is possible to choose the type of price based on Candles or Heikin-Ashi charts, also the type of calculation of Moving Averages can be changed.