View Download Details

Categories

Show

Andean Oscillator

This one is a new oscillator written by AlexGrover at Alpaca markets and published Pine script and Python code for it. Here is a NT8 conversion of same indicator.
The Andean oscillator calculation is based on two steps:
Estimate price upper/lower extremities.
Determine the degree of variation of each extremity.
The Andean Oscillator can return multiple information to the user. Its core interpretation is given by the bull and bear components.
A rising bull component indicates the presence of bullish price variations while a rising bear component indicates the presence of bearish price variations.
When the bull component is over the bear component market is up-trending, and the user can expect new higher highs. When the bear component is over the bull component market is down-trending, and the user can expect new lower lows.
The signal line allows a more developed interpretation of the indicator and can be used in several ways.
It is possible to use it to filter out potential false signals given by the crosses between the bullish and bearish components. As such the user might want to enter a position once the bullish or bearish component crosses over the signal line instead.

Rules For Trend Trading
Users wanting to use the indicator to perform backtests or paper trading can use the following trading rules:

Long : bullish component cross over bearish component
Short : bearish component cross over bullish component
Exit Long : bullish component cross under signal line
Exit Short : bearish component cross under signal line
Exits rules are optional.

A filter for false signals can be introduced by using the following long/short conditions instead:

Long : bullish component cross over signal line once per detected trend
Short : bearish component cross over signal line once per detected trend
Note that while this might prevent trading certain false signals it will induce a worse timing compared to the first proposed long/short conditions.

Category NinjaTrader 8 Indicators and More

Details: Andean Oscillator
Category: NinjaTrader 8 Indicators and More

December 13th, 2024
Size: 3.03 KB
Downloaded: 278 times

Keywords: oscillator andean

Comments/ratings

nilvano December 13th, 2024 05:18 PM

Thanks and greatly appreciated for the indicator and the explanation.

aztrader99 December 17th, 2024 01:49 PM

Nice work!

aztrader99 December 17th, 2024 01:49 PM

Nice Work!

cwelch144 December 19th, 2024 09:49 PM

Thanks! Amazing

cwelch144 December 19th, 2024 09:49 PM

No Comment

topdogtony January 27th, 2025 06:09 PM

This is an incredible indicator thanks

ndakotan January 31st, 2025 06:57 AM

amazing - nice work!

rickjames March 3rd, 2025 03:51 PM

Muchas garcias, as we used to say in the Andes. Excellent trabajo!

rickjames March 3rd, 2025 03:51 PM

Muchas garcias, as we used to say in the Andes. Excellent trabajo!

topdogtony June 14th, 2025 02:44 PM

I really appreciate what you've done with this indicator it helps me a great deal however still trying to master it, there's a lot that this indicator offers. Thank you.