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The ‘Frustrader Oscillator’ is an indicator from oscillating family, which identifies immediate Long and Short signal.
In another word, this oscillator can be one of the best tool to be used in ‘Price Action’ strategies to confirm whether or not a trend has turned to the opposite side.
Indicator benefis from two different lines, one of which indicates the main value of the oscillator dedicated by the period of previously calculated candles, where the second line illustrates the ‘Correction’ of the main value.
In fact, the correction line alters the color to demonstrates the likelihood of a turning spot in the price momentum.
However, using this oscillator as the sole soruce of signal is not recommended.
- The correction parameter in the ‘Frustrader Oscillator’ cannot be more than one sixth of the specified period for each time frame.
If a period of 32 is dedicated to H4 Timeframe, the actual correction parameter will not be above 5, regardless what ‘Correction’ value is input by the user.
Therefore, the ‘Correction’ value can be set by even smaller number, which makes the oscillator more sensitive or inaccurate. Simultaneously, the ‘Correction’ cannot be wider than a specific value, as explained above.
- Crossing FO line above 100/below -100 can be considered as an imminent reversal alarm.
- Submitting ‘Correction Line’ a flat shape can be a sign of discoloration.
- The best performance can be seen when combined with ‘Price Action’ technique, where excellent signals can be taken out of it.
Different periods on different time frames as seen below: