This is a variant of the famous Cumulative Delta function.
- The indicator is designed to spot trends, give a sign when it’s rewarding to buy pullbacks and indicate when the market is overbought or oversold.
- The indicator oscillates between the Top- and the Bottom- line. If the Candlesticks are above the midline, we have a positive trend, if the Candlesticks are below the midline, we have a negative trend.
- The Signal-line is responding to every relevant price move in the market. The signal-line indicates overbought and oversold areas as well as when it’s good to buy pullbacks in trends.
- The Confirmation -line smooths out the values of the candlesticks and serves a confirmation-line of the current trend.
This indicator is perfectly combined with Parametric Oscillator (Expo).
HOW TO USE
1. Use the indicator to detect a trend or to stay in the trend.
2. Use the indicator to buy Pullbacks in trend.
4. Combine it with the indicator Parametric Oscillator (Expo).
INDICATOR IN ACTION
I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
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