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
AVGC5.z - AVGC35.z |
z =Offset |
Where z
is the offset. If the offset is 1, the value would be from 1 bar ago.
Examples
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
![](https://media.screensteps.com/image_assets/assets/003/233/133/original/d655227e-449f-4e74-b514-f31c1a8328a8.png)
![](https://media.screensteps.com/image_assets/assets/003/233/135/original/6b33a7ee-429a-4dea-81c4-1edc245c243f.png)
Read more on Elliott Wave Oscillator (ELO) at Investopedia.