ATM Minor Wave Oscillator (atmIWO)

This study is used to identify the internal Elliot Waves inside a Major Elliot Wave.

 

Line color, thickness, and style can be changed in parameters.

Additionally, three OB/OS lines can be added to the display: Hi, Lo, Zero.

Minor Wave Oscillator parameters

Parameter

Description

Display

Opens sub-window to set parameters:

      Color = Line color.

      Weight = Line thickness.

      Display = Select Line or Histogram.

      ShareScale = Assign a behavior for functions and studies sharing the vertical scale:

Auto = System determine whether sharing is feasible.

On = Scale is shared regardless of the functions and studies displayed.

Off = Scale is not shared.

MarkIt

Opens the Specify Conditions window.

Price

Price used in calculation.

OB/OS

Opens sub-window with overbought and oversold parameters:

      Color = Select a color for the line.

      Weight = Choose a thickness for the indicator.

      Type = Choose fixed or dynamic.

Fixed = uses Level as a fixed OB/OS value.

Dynamic = uses Standard Deviation and Lookback for a dynamic OB/OS value:

OB: MA(@,Sim,lookback) + factor * STDDEV(@,lookback)

OS: MA(@,Sim,lookback) - factor * STDDEV(@,lookback)

where @ is the study

      Std Dev = Multiplier used to calculate high and low.

      Lookback = Number of bars to compare to the current bar.

      Level = Percentage of average OB/OS used to calculate predictor Ob/OS levels.

      Display = Select this check box to display the component.

      Style = Choose a line style.