Parametric Oscillator (Expo)

2019년 12월 17일

Parametric Oscillator (Expo)

DESCRIPTION

Parametric Oscillator is an ATR based indicator that both shows the momentum in the market and overbought/oversold areas. The indicator has a price line that can be used for market timing.
This indicator is a good complement to Cumulative Delta (Expo). If you absolutely want to understand momentum and market timing, these indicators should be used together with Parametric ATR Signal (Expo).


HOW TO USE

1. Use the indicator to detect trends.

2. Use the indicator to assess the momentum in the market.

3. Use the indicator to identify overbought and oversold areas.

4. Combine the indicator with Cumulative Delta (Expo) and with Parametric ATR Signal (Expo).


INDICATOR IN ACTION

REGULAR – SCALE

TREND
• A positive trend: the candlesticks are above the midline.
• A negative trend: the candlesticks are below the midline.
• The midline can act as a support or resistance level

OverBought
• The candlesticks are approaching the upper-cloud

OverSold
• The candlesticks are approaching the lower-cloud


EURUSD



BTCUSD



BRENT



EURUSD



LOGARITHMIC – SCALE

TREND
• A positive trend: the candlesticks are close to the upper cloud.
• A negative trend: the candlesticks are close to the lower cloud.

OverBought
• We must have a negative trend and the Price-line peak up above the midline.

OverSold
• We must have a positive trend and the Price-line peak down below the midline


EURUSD



BTCUSD



GOLD



RENKO CHART


BTCUSD



DIVERGENCES
All types of momentum oscillator indicators produce divergences and so does Parametric oscillator (Expo). Divergences occur when the oscillator deviates from the trending price action. Bullish divergence is then when the trending price makes a lower low but the oscillator makes a higher low. Bearish divergence is then when the trending price makes a higher high but the oscillator makes a lower high.


I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!

I will continue to work on this indicator, so please share your experience and feedback with me so that I can continuously improve it. Thanks to everyone that have contacted me regarding my scripts. Your feedback is valuable for future developments!


ACCESS THE INDICATOR

• Contact me on TradingView or use the links below




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Disclaimer

Copyright by Zeiierman.

The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

My scripts/indicators/ideas are only for educational purposes!

2020년 8월 6일

릴리즈 노트

Major Improvements!

• Market change/reversal signals are added!
  

Best

2020년 8월 9일

릴리즈 노트

Minor update

Best

2020년 8월 19일

릴리즈 노트

Minor Update

• *Heads-up top signals added (Red triangles)
  *Heads- up bottom signals added (Green triangles)
  
  Heads-Up signals give early signs of when the market might top- or bottom out.
  

Best

2020년 10월 6일

릴리즈 노트

Improvements!

• New Long and Short Signals with Alerts Added.
  
• Improved Market Change/reversal Signals.
  
• Improved Heads-Up Signals.
  

2021년 3월 11일

릴리즈 노트

Improvements!

• Major Performance Improvements
  
• Improved Accuracy of Market-change and Heads - up signals
  
• Trend Shift Alerts Added
  

2021년 6월 17일

릴리즈 노트

Improvements!

• Performance Improvements
  
• Tooltips Added
  

2021년 7월 8일

릴리즈 노트

Improvements!

• Enhanced oscillator calculation
  

2021년 8월 19일

릴리즈 노트

Improvements!

• Minor changes
  

2021년 8월 23일

릴리즈 노트

Improvements!

• Alerts Added
  

2022년 2월 10일

릴리즈 노트

Improvements!

• Alerts Added
  

8월 28일

릴리즈 노트

We’ve rolled out a major redesign of the Parametric Oscillator. The new version provides a clearer view of price dynamics by combining multiple market waves into a candle-style oscillator, highlighting momentum shifts, overbought/oversold zones, and quick price action.

This update introduces a refined structure, improved signal responsiveness, and smoother visual design, making it easier to spot trend strength and turning points at a glance.