OSCAR Oscillator by GenZai - NNFX

OSCAR Oscillator by GenZai

Green line is the Oscar Rough
Red line is the Oscar
By default based on the 8 last candles and smoothed using RMA

Purple line is the Slow Oscar
By default based on the 16 last candles and smoothed using WMA


Exit signaling
This indicator can be used as an exit indicator when line cross each other.

Entry signaling
When the green line crosses up, it indicates a long entry

When the red line crosses up, it indicates a short entry

When the indicator crosses the dashed grey lines it indicates Overbought Oversold

Slow Oscar Add-on
This is an Add-on to the orignal Oscar indicator
Can be hidden if you want the original experience of the Oscar indicator.
Can be used as a confirmation indicator by looking at the direction of the slope to verify is your are trending long or trending short.
Can be used as a baseline to confirm signals given by Oscar
Can be used to tweak your signals and test different settings.

Stock or Forex?
The program was originally written for stocks, but works equally well with the Forex market.

How this indicator is calculated ?

This is the formula we use to calculate the Oscar:
let A = the highest high of the last eight days (including today)
let B = the lowest low of the past eight days (including today)
let C = today's closing price
let X = yesterday's oscillator figure ( Oscar )
Today's "rough" oscillator equals (C-B) divided by (A-B) times 100.
Next we "smooth" our rough number (let's call it Y) like this:
Final oscillator number = ((X divided by 3) times 2), plus (Y divided by 3).

You can choose between different smoothing options:
RMA: Moving average used in RSI . It is the Adjusted exponential moving averages (also known as Wilder's exponential moving average )
SMA : Simple moving average
EMA : Exponential moving average
WMA : Weighted moving average

Phát hành các Ghi chú: Hello,

I'm Shipping version 2 as per requested by some of you.

The problem was it was not so easy to identify when the lines crossed.

So I've added a green arrow for long signals, and red arrows for short signals.

I've also added a Cross Signal Sensitivity input, so you can remove false signals when the lines barely cross each other.
You can see the crossing distances, being the 3rd number in Blue.
The Blue number is the difference between the value of the OscarRough (Green Line) and the Oscar (Red Line).

The default value is 0.
You can remove false signals with settings with a value of 0.5 or 1 for exemple.
Phát hành các Ghi chú: Minor v3

Forgot to clean some code.
Nothing changed for the users.
Phát hành các Ghi chú: MAJOR RELEASE : V4

  • The Slow Oscar is hidden by default
  • Improved the signal Sensitivity
  • Changed default setting of Signal Sensitivity to 0.5
  • Added Signal lines (Dashed green and Dashed red)
  • Possibility to add an indicator as a source

More on Improved Signal Sensitivity:
The old one was removing good signals just because the OscarRough (green line) barely crossed the Oscar (Red line).
Now if on the next candle the cross confirms (ie: OscarRough still over Oscar when crossed-over) you get a green confirmation arrow-up

More on Added Signal lines (Dashed green and Dashed red):
Again the point is to remove the amount of false signals, now if the crossover happens too low or too high (ie: over the Signal line for a long) you won't get the Green Triangle Signal to display.

More on Possibility to add an indicator as a source:
You can calculate the Oscar of the CMF, like in the exemple given. So you can get signals from your favorite other indicators.
By default the source is based on the close price of the candle.
Phát hành các Ghi chú: V5 Changelist

2 more Smoothers have been added
  • LSMA
  • HMA

And Timeframe resolution settings has been added
Phát hành các Ghi chú: updated the chart screenshot but not the code
Mã nguồn mở

Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.

Bạn muốn sử dụng tập lệnh này trên biểu đồ?

Bình luận

I'm not currently using this indicator in my trading algorithm, but I wanted to try it out as I hear a lot of mt4 users talking about it.

Please let us know what are your prefered settings and use of this tool.
+19 Phản hồi
@GenZai, i found this really helpful bro gonna test it out tmrw
+2 Phản hồi
@GenZai you should be using this indicator it is so accurate! It is the main indicator in my algorithm now thank you so much!
+4 Phản hồi
this is amazing, thanks for this
+1 Phản hồi
it is so accurate in 15 min 30min. Pl add time frame setting. In next version
+1 Phản hồi
GenZai hmmore
@hmmore, you're in for a treat :)
timeframe has been added!
+1 Phản hồi
Thanks very much for this. It really excels as an exit indicator - gets me out one candle better than any other indicator i've tried (without adding loads of false exits!)

I've got SSL Channel for entry and this for exit - great combo!
+1 Phản hồi
GrayFoxx MeaningOfLife42
@MeaningOfLife42, Do you happen to know if this repaints?
Phản hồi
tried to compile the code but got some errors. what could be the problem?
+1 Phản hồi