divergence software, inc.
Development & Consulting Services
Product Detail
AB Oscillator for TradingView
TradingView indicators will be activated for your TradingView account and no installation is required. eSignal indicators will be delivered to you via email in zip files. Some of the more complex indicators have installer programs. In most cases we will require your eSignal username so that we can set up the entitlement for the indicator(s) you have purchased.
The majority of our indicators are licensed for a one-time fee (i.e., non-recurring). However, we do have some subscription-based products, including marketDirection Monitor, Harmonic Pattern Collection, and S/R Analyst Pro.
Description
The AB Oscillator (aka Elliott Oscillator) plots a standard 5/35 simple moving average oscillator. It also incorporates two self-adjusting strength bands that can be used to identify Wave 3 and Wave 5 trends.
A Wave 3 condition is present when the oscillator is well above the upper band (or well below the lower band) and the distance between the two is steadily increasing. After the Wave 3 has completed, the oscillator should pull back to the zero-line or beyond.
The next push (Wave 5) will have less momentum and should be visible as a divergence between the price action and the oscillator. So in a bullish Wave 5 we will see higher-highs in the price but lower-highs in the oscillator when compared to the Wave 3 that preceded it.
Specifications
- Product ID: TV0008
- Study only, no source code provided
- Requires TradingView