OPEN-SOURCE SCRIPT
Accelerator Oscillator Plus
Updated
Bill Williams designed the Accelerator Oscillator (AC) to provide the earliest indications possible to changes in the trend, and he claimed that it gives traders a significant advantage in the market.
Improving upon his indicator, I give you Accelerator Oscillator Plus (AC+). Currently, Accelerator Oscillator Plus sets itself apart from other Accelerator Oscillators in Tradingview because it has a source option that allows the user to choose between close, hl2, etc.
Calculation:
AO(5,34) = sma(close,5) - sma(close,34)
AC(5,34,5)+ = AO - sma(AO,5)
The default & recommended settings for Accelerator Oscillator Plus are:
AO ma1: 5
AO ma2: 34
AC ma: 5
AO Source: Close
How to trade with this oscillator:
When values are greater than zero, oscillator is green/bullish.
When values are lesser than zero, oscillator is red/bearish.
A signal to buy occurs when the oscillator changes from (-) to (+) values...and vise versa for a sell signal.
If you have any questions or concerns, please leave a comment down below.
Also, hit the like & follow buttons if you haven't already!
I come up with new indicators every month!
Good luck, and enjoy :)
Improving upon his indicator, I give you Accelerator Oscillator Plus (AC+). Currently, Accelerator Oscillator Plus sets itself apart from other Accelerator Oscillators in Tradingview because it has a source option that allows the user to choose between close, hl2, etc.
Calculation:
AO(5,34) = sma(close,5) - sma(close,34)
AC(5,34,5)+ = AO - sma(AO,5)
The default & recommended settings for Accelerator Oscillator Plus are:
AO ma1: 5
AO ma2: 34
AC ma: 5
AO Source: Close
How to trade with this oscillator:
When values are greater than zero, oscillator is green/bullish.
When values are lesser than zero, oscillator is red/bearish.
A signal to buy occurs when the oscillator changes from (-) to (+) values...and vise versa for a sell signal.
If you have any questions or concerns, please leave a comment down below.
Also, hit the like & follow buttons if you haven't already!
I come up with new indicators every month!
Good luck, and enjoy :)
Release Notes
Added two new parameters: "Simple MA (AO)?" - controls whether AO moving averages are simple or exponential. (Default: Exponential)
"Simple MA (AC)?" - controls whether AC moving average is simple or exponential. (Default: Exponential)
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.