The Enhanced Index (EIDX) is a modified William %R that behaves much like the original, to indicate overbought and oversold market conditions.
EIDX has the advantage of - Reacting more quickly to changes in buying power. - Predicting market turning points better than other oscillators. Divergences are more pronounced.
I m not a programmer but wondering ... how would u compare this to Ultimate Oscillator.. which one do u think is better in giving a more trust worthy signal to a trader..
ChartArt
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Thank you very much. This indicator seems to be more exotic. Here is one source explaining it (behind a pay wall):