⚛WPO - Wave Period Oscillator by Cryptorhythms
⚛WPO - Wave Period Oscillator by Cryptorhythms
Intro
The indicator is based on Akram El Sherbini's article "Time Cycle Oscillators" published in IFTA journal 2018. The third in a series of 4 time cycle indicators I will be publishing.
The WPO is a short-term oscillator that measures the buying and selling period of price cycles over a certain time interval. The leading oscillator indicates a rise in buying period when it moves above the zero line and a rise in selling period when it moves below the zero line.
Description
Centerline Crossover: A bullish centerline crossover occurs when the WPO line moves above the zero level to turn positive. A bearish centerline crossover occurs when the WPO line moves below the zero level to turn negative. When bulls are in control, the price rally begins and the average of the bull’s period T increases to drive the WPO line above the centerline. A buy signal is subsequently triggered. When the bulls start to loose power, prices move sideways and the average period decreases. In this case, the WPO line may flutter near the centerline and cause false signals, whipsaws. To avoid the whipsaws occurring on the centerline, the following trading tactics are proposed.
TL:DR
Bullish signals are generated when WPO crosses over 0
Bearish signals are generated when WPO crosses under 0
OverBought level is 2
OverSold level is -2
ExtremeOB level is 2.7
ExtremeOS level is -2.7
👍 Enjoying this indicator or find it useful? Please give me a like and follow! I post crypto analysis, price action strategies and free indicators regularly.
💬 Questions? Comments? Want to get access to an entire suite of proven trading indicators? Come visit us on telegram and chat, or just soak up some knowledge. We make timely posts about the market, news, and strategy everyday. Our community isn't open only to subscribers - everyone is welcome to join.
For Trialers & Chat: t.me/cryptorhythms
Intro
The indicator is based on Akram El Sherbini's article "Time Cycle Oscillators" published in IFTA journal 2018. The third in a series of 4 time cycle indicators I will be publishing.
The WPO is a short-term oscillator that measures the buying and selling period of price cycles over a certain time interval. The leading oscillator indicates a rise in buying period when it moves above the zero line and a rise in selling period when it moves below the zero line.
Description
Centerline Crossover: A bullish centerline crossover occurs when the WPO line moves above the zero level to turn positive. A bearish centerline crossover occurs when the WPO line moves below the zero level to turn negative. When bulls are in control, the price rally begins and the average of the bull’s period T increases to drive the WPO line above the centerline. A buy signal is subsequently triggered. When the bulls start to loose power, prices move sideways and the average period decreases. In this case, the WPO line may flutter near the centerline and cause false signals, whipsaws. To avoid the whipsaws occurring on the centerline, the following trading tactics are proposed.
TL:DR
Bullish signals are generated when WPO crosses over 0
Bearish signals are generated when WPO crosses under 0
OverBought level is 2
OverSold level is -2
ExtremeOB level is 2.7
ExtremeOS level is -2.7
👍 Enjoying this indicator or find it useful? Please give me a like and follow! I post crypto analysis, price action strategies and free indicators regularly.
💬 Questions? Comments? Want to get access to an entire suite of proven trading indicators? Come visit us on telegram and chat, or just soak up some knowledge. We make timely posts about the market, news, and strategy everyday. Our community isn't open only to subscribers - everyone is welcome to join.
For Trialers & Chat: t.me/cryptorhythms