Overview
The Price Oscillator displays the difference between two moving averages of a security's price.  The difference between the moving averages can be expressed in either points or percentages.

The Price Oscillator is almost identical to the MACD, except that the Price Oscillator can use any two user-specified moving averages.  (The MACD always uses 12 and 26-day moving averages, and always expresses the difference in points.)

Interpretation
Moving average analysis typically generates buy signals when a short-term moving average (or the security's price) rises above a longer-term moving average.  Conversely, sell signals are generated when a shorter-term moving average (or the security's price) falls below a longer-term moving average.  The Price Oscillator illustrates the cyclical and often profitable signals generated by these one or two moving average systems.