Elliott Oscillator
The Elliott Oscillator, coded as an Amibroker AFL, is a technical analysis tool used to identify trends in financial markets. By analyzing the difference between a 5-period and 35-period simple moving average of the security’s price, this indicator helps traders spot potential turning points. Amibroker AFLs facilitate the implementation of the Elliott Oscillator by providing a customizable script to visualize this momentum indicator on charts.
/_SECTION_BEGIN("Elliott Oscillator");
/* Elliott Oscillator Indicator*/
var0=MA(Avg,5)-MA(Avg,34);
Graph0=var0;
Graph0Style=6;
Graph1=0;
Graph1Color=5;
Fivelow= ( Ref(L,-3)0
AND
MA(C,3).25)
AND
(Fivelow
OR
(Ref(C,-2)==Inside() AND Ref(L,-1)