Dynamic Andean Oscillator

Dynamic Andean Oscillator — Enhanced Indie Version

This is a refined implementation of the Andean Oscillator, originally conceptualized by © alexgrover, and redesigned specifically for the Indie platform.

The Andean Oscillator utilizes an online algorithm to analyze price trends through exponential envelope smoothing. This enhanced version introduces both structural and visual improvements for improved clarity and usability.

Key Features:

• Exponential Smoothing Envelopes: Captures trend dynamics by combining high-resolution envelope tracking of price and squared price movements.
• Bullish/Bearish Variability Analysis: Calculates standard deviation-like metrics to assess volatility in upward and downward price components.
• Dual Histogram Design: Market condition is reflected via color-coded histogram bars — green for bullish dominance, red for bearish — rendered as symmetrical "waveform" visualization.
• Compact Layout: Histogram amplitude is scaled and centered to reduce visual distortion and preserve chart readability, especially on lower-volatility assets.
• Clear Signal Line: An EMA-based signal is applied to the maximum volatility metric, aiding in crossover-based strategy design.
• Optimized for Indie v5: Fully compliant with the latest Indie scripting architecture, leveraging MutSeriesF, plot.columns, and parameterized configuration.

Ideal for momentum and trend-following strategies, this version of the Andean Oscillator provides a cleaner, more actionable visual structure while maintaining the mathematical integrity of the original concept.

If you have any ideas for improvement - welcome to the discussion in the comments