Sentiment Zone Oscillator-By Walid Khalil, CFTE, MFTA
Intresting tool for traders "Sentiment Zone Oscillator" (SZO), that was made by Walid Khalil that was introduced in "Stocks and Commodities" Magazine in May 2012. SZO is tracking swings in the marker sentiment.
BIO: Walid Khalil, CFTe, MFTA, is a member of the International Federation of Technical Analysts (IFTA) and chief technical strategist at HA Brokerage, Cairo, Egypt. He is the head of the publication committee and a technical analysis instructor at the Egyptian Society of Technical Analysts (ESTA).
Description
SZO using Triple Expotential MA of + - value and triggers by -1 and current close price. SZO Oscillator is easy to understand and give overbought and oversold levels for traders, some traders prefer using it in smaller timeframes for daytrading.
LOGIC:
When SZO moves aboves 7 its showing extreme Bullish Sentiment and when SZO goes below -7 its indicates extreme Bearish sentiment on mkt.
