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Target Sniper Oscillator | JeffreyTimmermans
The Target Sniper Oscillator (TSO) is an oscillator designed by calculating the difference between a regular Hull Moving Average (HMA) and another with horizontally flipped coefficients.
Levels are determined from the cumulative means of the oscillator's absolute values, and these are used to display Target Crosses that signal potential reversal points.
Settings
Length: Number of past price inputs processed by the oscillator.
Levels Multiplier: Adjusts how far the levels are from 0.
Source: The input source of the indicator.
Usage
The oscillator functions similarly to other oscillators. The sign of the TSO helps determine the current trend direction, while divergences with price might indicate potential reversals.
The displayed levels can also indicate whether the market is overbought or oversold. When the oscillator’s direction changes while above the upper level or below the lower level, a red Target Cross (if above the upper level) or a green Target Cross (if below the lower level) will appear, signaling a potential reversal. They can be pretty accurate, but "only" relying on them is your own responsibility.
Details
The name of the indicator is directly tied to the coefficients used for its calculation. By displaying the regular Hull coefficients alongside those flipped horizontally, the shape resembles a sniper’s target, hence the name. Also because of the bullish and bearish crosses, which determine the targets. The difference between these coefficient sets leads to the creation of the Target Sniper Oscillator (TSO).
This method offers a more structured impulse response, potentially reducing undesired performance in the frequency domain compared to simpler methods, such as subtracting the HMA from an SMA, EMA, or WMA.
-Jeffrey
Levels are determined from the cumulative means of the oscillator's absolute values, and these are used to display Target Crosses that signal potential reversal points.
Settings
Length: Number of past price inputs processed by the oscillator.
Levels Multiplier: Adjusts how far the levels are from 0.
Source: The input source of the indicator.
Usage
The oscillator functions similarly to other oscillators. The sign of the TSO helps determine the current trend direction, while divergences with price might indicate potential reversals.
The displayed levels can also indicate whether the market is overbought or oversold. When the oscillator’s direction changes while above the upper level or below the lower level, a red Target Cross (if above the upper level) or a green Target Cross (if below the lower level) will appear, signaling a potential reversal. They can be pretty accurate, but "only" relying on them is your own responsibility.
Details
The name of the indicator is directly tied to the coefficients used for its calculation. By displaying the regular Hull coefficients alongside those flipped horizontally, the shape resembles a sniper’s target, hence the name. Also because of the bullish and bearish crosses, which determine the targets. The difference between these coefficient sets leads to the creation of the Target Sniper Oscillator (TSO).
This method offers a more structured impulse response, potentially reducing undesired performance in the frequency domain compared to simpler methods, such as subtracting the HMA from an SMA, EMA, or WMA.
-Jeffrey
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