Alpha Beta Gamma Oscillator

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This momentum oscillator calculates three key ratios to analyze price position within a dynamic range:

1. **Alpha (Blue Line)**
`Alpha = (Current Close - Lowest Close) / Lookback Period`
Measures the absolute price elevation above the recent low, normalized by time. Represents raw upward momentum.

2. **Beta (Red/Blue Line)**
`Beta = (Highest Close - Lowest Close) / Lookback Period`
Calculates the normalized price range volatility over the period. Acts as a denominator for relative positioning.

3. **Gamma (Green/Red Line)**
`Gamma = Alpha / Beta`
Creates a 0-1 bounded oscillator showing relative position within the recent price range:
- 0 = At period's lowest close
- 1 = At period's highest close
- 0.5 = Midpoint of range

**Key Features:**
- Dynamic horizontal levels (default 15/85) for overbought/oversold zones
- Color-coded momentum direction:
- Beta turns red when expanding volatility
- Gamma turns green when strengthening momentum
- Candle visualization reinforces gamma's directional bias
- All calculations adapt automatically to the user-defined lookback period

**Interpretation Guide:**
- Gamma > 0.15 suggests overbought conditions
- Gamma < 0.85 indicates oversold territory
- Converging Alpha/Beta signals range contraction
- Gamma candles + line color alignment confirms trend strength

*Usage: Best applied to identify mean-reversion opportunities and confirm breakout/breakdown scenarios in ranging markets.*

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This description maintains technical accuracy while being accessible to traders, with clear attribution to najoomi ji as the creator.

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Phát hành các Ghi chú

update

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sma user defined added, upadate 5th to 6th version