The Advanced Get Oscillator was developed by Dr. Alexander Elder, a well-known trader and author in the financial industry. It was officially introduced to the market in the 1990s.
What is the Advanced Get Oscillator?
The Advanced Get Oscillator is a technical indicator that aims to offer a more reliable signal for traders in the Forex market. It is a composite indicator that combines elements of the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators to generate buy and sell signals. The advanced get oscillator seeks to address some of the limitations of the RSI and MACD indicators and provide traders with a more comprehensive view of market trends and momentum.
The Advanced Get Oscillator offers several advantages over traditional technical indicators:
- It provides a more accurate picture of market momentum by combining the RSI and MACD indicators.
- It can be used to identify both bullish and bearish signals, allowing traders to make more informed decisions.
- It can be customized to fit a trader’s specific needs and preferences, providing greater flexibility and control.
Advanced Get Oscillator Strategy
Buy Signal
- The Advanced Get Oscillator generates a buy signal when it crosses above the zero line. If the advanced get oscillator rises above its upper level, it suggests that the market may be getting overbought and may experience a correction. A rise above the moving average of the advanced get oscillator suggests that market momentum is strengthening and becoming more bullish, confirm the signal when there is a break of structure ending the consolidation area, place your stop loss just below the previous swing low to protect your trade.
Sell Signal
- The advance get oscillator falling below zero, its lower limit, or its average signals a potential selling opportunity, oversold market, or decreasing momentum and a bearish market trend, respectively, confirm the signal when there is a break of structure during a bull trend favorable to bearish trend, place your stop loss just above the previous swing high.
Exit Trade / Take Profit
- Close your open trade when the opposite signal appears or when using your preferred method of exit.
Keep in Mind
- It’s important to practice good money management and maintain discipline, control of emotions, and a sound trading psychology. Be mindful of market conditions like low volume/volatility and avoid trading during less favorable times and conditions such as outside of major trading sessions, with exotic currency pairs, or with wider spreads.
Advanced Get Oscillator Pros & Cons
Pros
- The advance get oscillator provides a more accurate picture of market momentum compared to traditional indicators.
- It can be used to identify both bullish and bearish signals, providing traders with more opportunities to make informed decisions.
- It is customizable, allowing traders to tailor it to their specific needs and preferences.
Cons
- The advance get oscillator can generate false signals, leading to incorrect trade decisions.
- It is based on the RSI and MACD indicators, which may not be suitable for all trading styles and strategies.
- It may be difficult for novice traders to interpret and effectively use the advanced get oscillator.
Conclusion
The Advanced Get Oscillator is a powerful tool that provides Forex traders with a more comprehensive view of market trends and momentum. Its combination of the RSI and MACD indicators enables traders to make more informed decisions by identifying both bullish and bearish signals. The AGO also offers customization options, allowing traders to tailor it to their specific needs and preferences. However, it is important to keep in mind its limitations and to use it in conjunction with other tools and analyses for a more robust trading strategy.
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