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the difference between the 5 & 35 period moving average is plotted as a
histogram.
in wave 3 prices trade in a very strong trend & the indicator has a
strong peak.
in wave 5 the indicator does not go as high (a smaller oscillator peak).
historical testing (by advanced get) has shown that 94% of the time the
5/35 oscillator will pull back to 0 during wave 4.
this pull back to 0 allows the propper identification of wave 4.
mike arnoldi
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