The Oscillator in the script is calculated using of length 55
which is segmented by EVWMA [Elastic weighted moving average] of
AO = (Difference of and eVWMA basis of ) or diff
Represented by green and red columns
The black segmenting line is an eVWMA line of diff and is of length 21
This indicator may be useful in finding divergences and can be traded as we trade in general
On Scripts Section of myProfile
I Wake Trade Eat Sleep Daily!
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 a publication is governed by House Rules. You can favorite it to use it on a chart.