Alpha Beta Gamma Oscillator

2月2日

This momentum oscillator calculates three key ratios to analyze price position within a dynamic range:

1. **Alpha (Blue Line)**
`Alpha = (Current Close - Lowest Close) / Lookback Period`
Measures the absolute price elevation above the recent low, normalized by time. Represents raw upward momentum.

2. **Beta (Red/Blue Line)**
`Beta = (Highest Close - Lowest Close) / Lookback Period`
Calculates the normalized price range volatility over the period. Acts as a denominator for relative positioning.

3. **Gamma (Green/Red Line)**
`Gamma = Alpha / Beta`
Creates a 0-1 bounded oscillator showing relative position within the recent price range:
- 0 = At period's lowest close
- 1 = At period's highest close
- 0.5 = Midpoint of range

**Key Features:**
- Dynamic horizontal levels (default 15/85) for overbought/oversold zones
- Color-coded momentum direction:
- Beta turns red when expanding volatility
- Gamma turns green when strengthening momentum
- Candle visualization reinforces gamma's directional bias
- All calculations adapt automatically to the user-defined lookback period

**Interpretation Guide:**
- Gamma > 0.15 suggests overbought conditions
- Gamma < 0.85 indicates oversold territory
- Converging Alpha/Beta signals range contraction
- Gamma candles + line color alignment confirms trend strength

*Usage: Best applied to identify mean-reversion opportunities and confirm breakout/breakdown scenarios in ranging markets.*

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This description maintains technical accuracy while being accessible to traders, with clear attribution to najoomi ji as the creator.

2月2日

發行說明

update

4月6日

發行說明

sma user defined added, upadate 5th to 6th version