In my Simple word, Prime number oscillator shows stock turning points. when you can buy or sell stocks. The nearest prime number and Respective price series difference are PNO.
Prime Number Oscillator Setting
- Tolerance percentage: 5 is the default tolerance percentage number.
- Result: this is the color setting of this oscillator line. you can change it if you want.
- Panel: don’t have to change this option.
- Y-Axis: This is the right side value bar position setting. you can change it if you need it. also, you can change the color of the right side PNO values.
- Invert Y-Axis: this option is for the right side PNO values will invert. my recommendation to use all the default values of this indicator.
Prime Number oscillator trading Strategy
Go to indicator search section and search for Prime Number oscillator.
See the above Chart, whenever the Stock price is gaining, this indicator line will flat on the upper side. the wider flat line on the upper side means more price gaining. if decreasing flat line width in the upper side that means the share price strength also decreasing and share price can fall. this is the time you can sell the stock.
Similarly, if the stock price is falling, this indicator line is flat on the lower side. the wider flat line on the lower side means more price falling. if decreasing flat line width in the lower side that means the share price strength is increasing and share price can go upward. this is the time you can buy the stock.
See the above chart, after Some gaining price for some periods, this indicator show signal to sell. this is the way you can identify stock where to sell. in another way, if the prime number oscillator indicator sticks to high value for some period in the upper side, then share price can fall. and this is the exit point or selling point.
similarly, after Some falling price for some periods, this indicator show signal to buy. this is the way you can identify stock where buy. in another way, if this indicator sticks to a lower value for some period in the lower side, then share price can gain. and this is the entry point or buying point.
or If prime number oscillator indicator constant above the high for 2 periods. that is the sign of share price can fall and you can sell to stock.
Conclusion
All technical indicators are available to help you to make good decisions. prime number oscillator indicator is also good. but already best of best indicator available in the trading software. like MACD, volume, ATR trailing stops indicator. so you can use these indicators for better trading experience.
*Read related post for more information.