Oscillator Settings
Oscillator Reactivity - Oscillator Signals - Institutional Activity - Institutional Detection - OB and OS Zones
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Oscillator Reactivity - Oscillator Signals - Institutional Activity - Institutional Detection - OB and OS Zones
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The oscillator settings will impact the overall results that you get on NVME Oscillator X. This means that the settings you change will affect the following: Oscillator Trend Detection, Oscillator Quick Signals, Oscillator Trend Lifespan and Institutional Activity Detection. Users can change the settings to their style and we recommend default for short-term to mid-term trends and using a higher reactivity for longer-term trends.
Oscillator Reactivity is the first input field of the oscillator settings group that will change everything in the indicator as this input is universal across all of the calculations and algorithms in the script.
The higher the reactivity, the longer it will take to identify a trend however the trends will be longer-term. Ideal for those wanting to swing or hold a trade.
The lower the reactivity, the less time it will take to identify a trend however the trends will be short-term. Ideal for those wanting to scalp the markets.
Oscillator Signals is a bonus add-on to the oscillator X that provides traders with quick and easy to follow scalping calls. Some signals can last long-term but depends on the trend. There are 5 different modes to choose from allowing the trader to set different priorities and conditions for the signals they want. These signals can be used as a confirmation or in confluence with your strategy or analysis.
First Wave is the first option within the drop-down and it utilises the first oscillator wave, which is the one coloured in the gradient green and red.
Second Wave is the second option within the drop-down and it utilises the second oscillator wave, which is the one coloured in the gradient blue and purple.
Both will create signals for both overlays displayed within the oscillator, therefore users can use these signals together to create a higher probability confirmation.
High Chance will create less signals on the oscillator due to having more conditions to be met. However, these calls have a much higher chance of trend reversals or continuation.
None will show no signals within the Oscillator X.
This is the third feature that's customisable within the oscillator settings. This feature provides users with real-time buying and selling data from the institutions. They are marked as yellow columns within the chart and can help traders make informed decisions on where the market may go next. Users can select 4 options when it comes to this setting, which you will be able to find out more reading below.
Positive Activity is where the institutions are contributing to the current asset that you are analysing. These will be marked with a column that holds a value greater than 0 so they will be placed facing upwards.
Negative Activity is where nothing is really going on from anyone or institutions. The market buying and selling activity is really low and this will lead to the market being very slow.
Both will display both the positive and negative market activities on the oscillator. Positive is facing upwards and negative is facing downwards.
None will prevent the institutional columns from being drawn onto the oscillator's chart window.
This is the fourth input that is a drop-down allowing users to select different methods to detect institutional activity or negative activity. There are two modes that we find appropriate for detecting institutional activity.
Frequent Detection is the first method that uses a lower percentile module to find areas where institutions are trading. This may be better for quicker identification of any heavy activity.
Low Detection is the second method that uses a higher percentile module to find areas where institutions are trading. This may be better to remove the noise of false heavy activity and show major activities.
This is the 5th input on the list that draws overbought and oversold lines onto the oscillator that can be used to determine where a trend may begin to reverse or at least pullback. Traders shouldn't trade overbought or oversold areas on its own without analysis to back it up. If enabled a green and a red line will be drawn onto the chart. If disabled then this will be hidden.
