Elliott Wave Oscillator
The Elliot Oscillator is simply the difference of a 5-period simple moving average and a 35-period simple moving average displayed as a histogram that oscillates above/below a zero line.
Elliot Wave Oscillator: AVGC5 - AVGC35
z is the offset. If the offset is 1, the value would be from 1 bar ago.
The current Elliot Wave Oscillator can be written as follows.
AVGC5.0 - AVGC35.0
But you can leave off the offset since it is zero.
AVGC5 - AVGC35
If you wanted the Elliot Wave Oscillator from the previous bar instead of the current bar, you would need to add back the offset parameters.
AVGC5.1 - AVGC35.1
Read more on Elliott Wave Oscillator (ELO) at Investopedia.