01 Absolute Price Oscillator (APO)

It is the absolute difference between a slow and a fast Exponential Moving Averages. MACD and APO are equivalent. MACD returns an additional series called Signal, which is a short moving average on the MACD.

Figure 8.1: APO

when APO crossing above zero is considered bullish, when ranhging in positive territory indicates an upward movement. When there is a divergence between APO and price, it may indicate price reversals.

Figure 8.2: APO divergency

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001 APO by moracamilo on TradingView.com