Pretty Good Oscillator

The Pretty Good Oscillator (PGO) elaborates a range from current bar’s close to the period of simple moving average, presented through average true range (ATR).

Signals. According to Mark Johnson’s (original author) note, in order to open long position PGO value should be above +3.0. Once, rate reaches -3.0 it is time to place sell order. To exit any trade wait until PGO line returns to 0.0.