WPO - Wave Period Oscillator
March 15, 2019, 10:34 AM
Indicators
3 Comments
WPO – Wave Period Oscillator
A Time Cycle Oscillator – Published on IFTA Journal 2018 by Akram El Sherbini (pages 68-77)
(http:www.ftaa.org.hk/Files/2018130101754DGQ1JB2OUG.pdf)
Bullish signals are generated when WPO crosses over 0
Bearish signals are generated when WPO crosses under 0
- OverBought level is 2
- OverSold level is -2
- ExtremeOB level is 2.7
- ExtremeOS level is -2.7
As with most oscillators, divergences can be taken advantage of.
DEFPARAM CalculateOnLastBars = 1000
//EmaPeriod = 14 //Number of Periods of the EMA
EmaPeriods = max(2,min(999,EmaPeriods)) //range 2-999
//
EmaPeriods = 14
Cy = close[1]
A = high
sinwt = close / A
sinsq = sinwt * sinwt
cossq = 1 - sinsq
coswt = sqrt(cossq)
Angle = atan(sinwt / coswt)
Rad = 3.14 * Angle / 180
Tt = 6.28 / Rad
if close>Cy then
Ti=Tt
else
Ti=-Tt
endif
WPO = average[EmaPeriods,1](Ti)
RETURN WPO AS "Wpo",0 AS "0",2.7 AS "ExtremeOB",2.0 AS "Ob",-2.0 AS "Os",-2.7 AS "ExtremeOS"
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Filename:
Wave-Period-Oscillator.itf
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Roberto
https://www.ots-onlinetradingsoftware.com
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