Weighted Price Oscillator

This is the study version of the Weighted Price Oscillator (STRATEGY) indicator.

Weighted Price Oscillator is an unique indicator that shows the relationship between two custom variables that trigger signals upon specific conditions. When WPO (short for weighted price oscillator ) crosses over the signal or zero line, it creates a buy signal and conversely below the signal or zero line, it generates a take profit signal. All of which are provided that the specific conditions are met.

Inside the script's options, the following options are: signal sensitivity, enable signal background color, and take profit percentage. The signal sensitivity allows you to adjust the script's trigger sensitivity, so that the script can fire signals appropriate for a specific timeframe. Enabling signal background color will provide a visual on the oscillator when a buy or take profit signal is being created. And lastly, the take profit percentage option is for configuring the trade size percentage of which you want to take profit with.

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