blackcat1402

[blackcat] L2 Moving Average Oscillator

Level: 2

Background

OsMA is an abbreviation for the term Moving Average Oscillator (MAO). The OsMA is a technical indicator that shows the difference between an oscillator and its moving average over a period of time. The MACD is the most commonly used oscillator in the OsMA display, although any oscillator can be used. The MACD has a built-in moving average, which is the signal line. The signal line is an intersection of the MACD line. The OsMA is the difference or the distance between these two lines, which are usually drawn as a histogram. It can provide both a trend confirmation and possible trading signals.

Function

L2 Moving Average Oscillator combines advantages of moving average and oscillator. It can effectively reduce statruation effect of an oscillator under extreme market conditions.

Key Signal

fastline --> MAO fast line
slowline --> MAO slow line
trendline --> more stable trend line of fastline

Pros and Cons

Pros:

1. filter out oscillator fake signal with moving average processing
2. it is an oscillator that can detect overbought and oversold zones effectively


Cons:

1. need to select proper trading pair and time frame


Remarks

My first MAO indicator

Readme

In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.

The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.

Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.

Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.

Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.

Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.

Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
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Comments

Thanks Blackcat for this lovely helpful pine script. How can we use to short list the stocks by using in screener ? or we have to write php or python script ?
Regards .
+1 Reply
blackcat1402 MaheshVakharia
@MaheshVakharia, glad to hear you like this one. i have no idea how to use tradingview script for customized screener purpose.
+1 Reply
MaheshVakharia blackcat1402
@blackcat1402, Thanks Keep up your creativity .I have to check each stock , but surely this pine script helps me .
Love and Regards.
Reply
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