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Oscillator TrendlessOS was developed by Joe DiNapoli in the early 1980s and described in the book Trading with DiNapoli Levels. As well as other indicators developed by DiNapoli, Trendless oscillator is a supplement to the major instruments of desition taking - Fibonacci levels. However, according to DiNapoli's concept, Trendless indicator can be used as an independent trading instrument.
TrendlessOscilator = close – SMA (7, close)
Joe DiNapoli discribed major strategies of Trendless indicator application in active trading on the finacial markets. Out of five described strategies, three methods of indicator use are of great interest. They demonstrate that Trendless indicator is the most profitable technical indicator among other similar indicators.
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