# ProAlgo Oscillator

## BASIC VERSION

![](https://3307883039-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-Mghn5Y-IN8d1T3IgjSH%2F-Mj76AwtzqmJYSxIHcGf%2F-Mj77BQz_ahueSWHkrg0%2FTradingView_lfD0IffdiU.png?alt=media\&token=174a7613-f995-48e5-af1b-7879e71ef475)

To help identify uptrends using the blue, you will see a "B" for BUY ALERT. Also identifying downtrends using the red, you will see a "S" for SELL ALERT. Purple will identify overbought for potential reversals to the downside and yellow will identify oversold for potential reversals to the up side.



![](https://3307883039-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-Mghn5Y-IN8d1T3IgjSH%2F-MjpSlyhaLHrN_gmwFoT%2F-MjpVwsrumyCeps9mZAb%2Fimage.png?alt=media\&token=aafbd308-f2bf-48e0-a3ed-a05c1423d173)

This is a setting you can turn on that changes the candles colors to the oscillator colors to help identify buys and sells, while also identifying areas of oversold an overbought.



![](https://3307883039-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-Mghn5Y-IN8d1T3IgjSH%2F-MjpSlyhaLHrN_gmwFoT%2F-MjpYIQJHfMAlbQDOFua%2Fimage.png?alt=media\&token=f3a12346-7ab2-4b52-9e4c-96bbf747079b)

An oscillator setting you can change the candles to Arithmetic candles, a much more accurate stochastic.&#x20;



![](https://3307883039-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-Mghn5Y-IN8d1T3IgjSH%2F-MjpSlyhaLHrN_gmwFoT%2F-Mjp_II9z2_YU5dW2cRn%2Fimage.png?alt=media\&token=7a08b57e-724b-4e51-860a-9d4bd5392e03)

Oscillator Trading Panel, shows the different timeframes momentum, direction and warnings using a momentum approach. Warnings are to show if its a sell or buy only area.



## ADVANCED VERSION



![](https://3307883039-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-Mghn5Y-IN8d1T3IgjSH%2F-MjpSlyhaLHrN_gmwFoT%2F-MjpaatlPWW8Isb0l7HP%2Fimage.png?alt=media\&token=04eeaa4c-66b9-448a-8db9-867603e5cdd9)

Combination between an Elliot wave oscillator and an Institutional volume indicator. Blue candles indicate uptrend while the red candles indicate downtrend. When the colors shade darker the blue or red diamond indicate a buy or a sell using momentum and volume.



![](https://3307883039-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-Mghn5Y-IN8d1T3IgjSH%2F-MjpfaR5rAJmdH2fNP1f%2F-MjpfipeK2B1wSQ5MpLd%2Fimage.png?alt=media\&token=13341285-f4d7-4cb7-8579-43596ccf6757)

Customizable alerts for overbought and oversold signals on the ProAlgo oscillator.

