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<<A 3/10 price oscillator is the difference between two MA's - similar to a 3/10 MACD - hence its roughness. Drawbacks with the price oscillator are:1) values are not normalized - they will vary according to price scaling;2) "jaggedness" makes it difficult to use when looking for turning points;3) there is one slightly more jagged indicator, that will turn before the price oscillator: price.>>
About a year or so ago Stocks and Commodities magazine published a good article on the 5 minus 15 MA - exponential. When it displays divergence between the average and the price trend it has an uncanny ability to predict price changes. While I can code the 5 - 15, I've been unable to code a divergence Exploration or back test.
Jay
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