Theory:
If you’re diving into the world of trading indicators, you might have come across the M-Oscillator. Originally detailed by NGBaltic, this oscillator was said to fluctuate between +14 and -14. However, that’s only true for the main period of 14. For other periods, you’ll find the ranges shift. In this enhanced version, we’ve kept the original vibe of the indicator while ensuring it oscillates between +14 and -14, as initially mentioned by NGBaltic. This allows traders to use fixed levels for signals effectively.
In this extended version, we’ve added an extra layer of detail with four distinct color change signals instead of the usual three:
- Color changes on slope change
- Color change when crossing a specified level
- Color changes on signal line cross
- Color changes on zero line cross
Usage:
Each color change can serve as a potential trading signal, helping you to make more informed decisions.
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