Once you’ve got the basics down, consider combining the Elliott Wave Oscillator with other momentum indicators. The True Strength Index pairs well with wave analysis, and I’ve had good results layering in volume-based confirmations too. Later, when bullish bars emerged, confirming renewed bullish momentum as the price broke to the upside. Elliott Wave oscillator The 5-period SMA, on the other hand, is 20% based on the previous candle’s closing price. If EWO is both positive and increasing, this is a strong bullish trend signal. The near-term trend is bullish and the uptrend is getting stronger. On the other hand, if EWO is both negative and increasing, this is a bearish […]