The OSMA Breakout indicator displays signals that are formed at the moment of overcoming the previous OSMA extreme while simultaneously forming the extreme point on the price chart. If the extremum of the previous wave was broken, but the price remained in the flat (in a narrow range), then the signal will not be displayed. This approach allows you to reduce the number of false signals during a prolonged trend and divergence of the indicator.
The indicator works on any trading instrument, on any timeframe.
- Fast EMA Period – the period of the fast moving average
- Slow EMA Period – the period of the slow moving average
- Signal SMA Period – the period of the signal moving average
- Ma Filter – a filter for signals determined by the moving average