Trend Oscillator (Expo) measures the overall trend strength and how strong the current price move/momentum is. The indicator is leading since it can signal a possible trend change that is yet to start. The color of the histogram and its value helps to gauge the strength and momentum of the trend.
- The user can enable Bar Color that coloring the candlesticks based on the trend strength.
- The user can choose between different trend calculations, such as smoothed trend, volume-weighted trend, a non-lagging trend, to mentions a few.
All types of oscillators produce divergences and so does Trend Oscillator (Expo). Divergences occur when the oscillator deviates from the trending price action. Bullish divergence is then when the trending price makes a lower low but the oscillator makes a higher low. Bearish divergence is then when the trending price makes a higher high but the oscillator makes a lower high.
HOW TO USE
- Identify the trend strength and direction
- Identify current momentum
- Identify potential trend reversals
- Identify Overbought and Oversold areas
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