Description
The Projection Oscillator study shows the relationship between the current price and its minimum and maximum prices over time. Unlike the Stochastic Oscillator, here the minimum and maximum prices are adjusted up or down by the slope of the price's regression line.
The Projection Oscillator shows where the current price rests between the Projection Bands. A value of 0 indicates that prices are touching the bottom band, a value of 50 indicates that the current price is exactly in the middle of the two bands while a value of 100 indicates that prices are touching the top band.
Input Parameters
| Parameter | Description |
|---|---|
length
|
The number of bars used to calculate the Projection Oscillator. |
Plots
| Plot | Description |
|---|---|
PROSC
|
The Projection Oscillator. |
OverBought
|
The overbought level. |
OverSold
|
The oversold level. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.