The Price Oscillator uses two moving averages and calculates the difference between them. This can be used to determine overbought / oversold conditions as well as to confirm bullish / bearish price moves. This example shows the percentage difference between the 50 and 200 period moving averages:
if one of the averages is set to a value of 1 it will show the percentage difference from the closing price. In this example AUDUSD is currently trading at 6.8% above its 200 day MA:
To add the tool to your chart, select the tool from the Averages tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.
Scripting Function: POSC()
For when the 50/200 MA oscillator crosses 0:
POSC(STYLE=Simple, CALC=Close, PTYPE=Percentage, BAR1=50, BAR2=200) Crosses 0
Actions & Properties
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Price Oscillator tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Price Oscillator tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Price Oscillator to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structures Panel.
Calc Style: This option allows you to change the type of calculation used by the Moving Averages in the Price Oscillator. The calculation options are Exponential, Simple, Weighted, Smoothed, Modified or McGinley.
Calc Using: The Price Oscillator uses Moving Averages in its calculations. This option is used to determine which components of the data are used in calculating the Moving Averages. You can choose from, Open Price, Closed Price, High Price, Low Price, HL (High + Low / 2), HLC (High + Low + Close / 3), OHLC (Open + High + Low + Close / 4), OC (Open + Close / 2) or Median.
Price Type: This provides an option to change the price type used in the Price Oscillator, you can select from an ‘Absolute’ or ‘Percentage’ price type.
MA Bar 1: The Price Oscillator uses two Moving Averages in its calculations. This property allows you to set the number of bars used to calculate the 1st Moving Average. (For example, if 25 is used then the values for the last 25 bars are added and divided by 25).
MA Bar 2: The Price Oscillator uses two Moving Averages in its calculations. This property allows you to set the number of bars used to calculate the 2nd Moving Average. (For example, if 25 is used then the values for the last 25 bars are added and divided by 25).
Centre Line Style: This option expands to display the Centre Line Properties as below:
- Line Style - There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the 1st Moving Average displayed on the Awesome Oscillator tool. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to adjust the colour of the 1st Moving Average displayed on the Awesome Oscillator tool.
- Transparency - Use this slider bar to adjust the transparency of the Centre Line, moving the slider to the left will increase the transparency of the line.
- Visible - Un-tick this checkbox to hide the Centre Line on the Price Oscillator.
Plot Style: Allows you to change how the tool is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
Line Style:The Line Style property allows you to adjust the type of line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
Line Width: Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
Line Colour: Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Fill Up / Down Barrier: When the Plot Style is set to Shaded you are able to adjust the barrier value, i.e. the margin between the two correlation plots. The default value is 0.00.
Fill Up Colour: When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.
Fill Down Colour: When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.
Transparency: When the Plot Style is set to Shaded you are then able to adjust the shading transparency. Moving the slider to the left will increase the transparency of the tool.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show in Price Scale: When selected the current Adaptive Moving Average value will be displayed in the Price Scale.