TM Oscillator

TM Oscillator is a momentum oscillator, which uses principles of several other most used indicators out there(rsi, cci, and many others…) while removing their imperfections.

Their problem is that they often give whipsaw signals or late entries

Where one indicator lacks, we improve it.

TM Oscillator components:

1) TM Line (described above)

• oscillates between 3.5 and -3.5

2) Smoothing Line

• exponential moving average of the TM Line 
• determines color of itself and the TM Line

3) Histogram

• shows the difference between TM Line and Smoothing Line 

4) Overbought and Oversold Signals

• crosses at the top of the indicator
• prints when the TM Line moves out of its usual moving range

5) 0 Level

• changes color depending on the location of the Smoothing Line

How to use it:

For BUYING:

1. The TM Line is above the Smoothing Line (both are green) which symbolizes that bulls are currently in power
2. Both lines are above 0 Level (in that case 0 Level would be green)
3. The Histogram is green which is showing that the bullish momentum is still increasing
4. Oversold signal (green cross) prints

These are the signals you should look for when considering BUYING. You don’t have to wait for all of them to enter your long position, depending on your trading style.

For SELLING:

1. The TM Line is under the Smoothing Line (both are red) which symbolizes that bears are currently in power
2. Both lines are below 0 Level (in that case 0 Level would be red)
3. The Histogram is red which is showing that the bearish momentum is still increasing
4. Overbought signal (red cross) prints

These are the signals you should look for when considering SELLING. Same as when you are buying, you don’t have to see all of them to enter your short position.

!!!WORKS ONLY ON TRADINGVIEW!!!

After you purchase, you will get source code of the indicator and simple guide how to set it up.

WARNING: This product contains proprietary source code that is the intellectual property of Trading Master. You are prohibited from sharing, distributing, or reproducing the source code in any way. Violators may be subject to legal action.