6️⃣Oscillator

Algo Elixir Oscillator

Algo Elixir Oscillators is to help spot divergences, identify trends/reversals, and used as an extra confirmation to your analysis. It is best used together with the Algo Elixir Indicator.

There are two different oscillators to choose from: Heikin Ashi Oscillator and a Waves Oscillator. By default, the Heikin Ashi Oscillator is set to default and is the most updated version.

The oscillators identifies oversold and overbought areas to show possible areas of reversals by using price, volume, and momentum data. It can be used to predict change in the trend by detecting divergence. The oscillators show divergence when price is moving in the opposite direction of the indicator. Divergence indicates that current price trend may be changing. The oscillators can also help identify trends when the market is choppy and a definite trend cannot be established.

The oscillators have customizable settings so the Oscillator sensitivity can be adjusted to the traders’ style.

Heikin Ashi Oscillator:

Waves Oscillator: