Andean Oscillator — Indie Version
Table of Contents
Andean Oscillator — Indie Version
This is a refined version of the Andean Oscillator by © alexgrover, designed specifically for the Indie platform.
The Andean Oscillator uses an online algorithm to analyze price trends through exponential envelope smoothing. This version adds structural and visual improvements for better clarity and usability.
Features:
- Exponential Smoothing Envelopes: Captures trend dynamics by combining high-res envelope tracking of price and squared price.
- Bullish/Bearish Variability Analysis: Calculates standard deviation-like metrics for upward and downward price components.
- Dual Histogram: Market condition is shown via color-coded histogram bars — green for bullish, red for bearish — as a symmetrical “waveform”.
- Compact: Histogram amplitude is scaled and centered to reduce visual distortion and preserve chart readability on lower-volatility assets.
- Clear Signal Line: EMA-based signal on max volatility metric to aid in crossover strategies.
- Indie v5 compatible: Fully compliant with latest Indie scripting, uses MutSeriesF, plot.columns and parameterized config.
Good for momentum and trend following strategies, this version of the Andean Oscillator has a cleaner, more usable visual structure while keeping the math of the original.