FOB (The Frequency of Occurrence of Bars) – indicator refers to the oscillators. Many are watching the change in the price chart. Trend pulses are replaced by side, and the side trending. Watching this change, you may notice that one color bars often formed during the pulse movements. For example, when an upward trending momentum on the chart you can see the most bullish bars and less bearish. When trending downward momentum are more common bear bars. This indicator leads through bull and bear bars for a certain period.
- Nperiod – the period for which is conducted by bullish and bearish bars
- Nbars – the number of displayed bars
Indicator is represented by two histograms (green and red). To the base of each of the histograms of two moving averages are constructed. Moreover indicator has two dynamic restrictive level (two dotted line). The output of one of the histogram beyond these levels indicates the near end of the pulse movement, followed by a reversal or consolidation. Output moving averages for restrictive levels – this is an additional sign of the end of the pulse movement.
P.S. Recommended value indicator period – not more than 24.
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