Using the Pro-Go Oscillator to Compare Professional and Public Activity
Summary
The note describes Larry Williams' Pro-Go oscillator as an indicator for daily charts. It focuses on a comparison between a Professional line and a Public line, interpreting their divergence as a possible discrepancy between professional activity intended to move prices and price behavior. The stated general signal is bullish when the Professional line falls below the Public line.
The indicator has three inputs: a calculation period and overbought and oversold thresholds. The document does not specify exact parameter values, explain how thresholds affect signal interpretation, or provide entry, exit, or risk-management rules. It offers no backtest, examples, or evidence that the signal predicts returns, so the described buy condition is a heuristic rather than a validated trading strategy.
Key ideas
- Pro-Go is intended for use on daily charts.
- It compares Professional and Public lines to identify potential discrepancies in activity and price.
- The note describes the Professional line being below the Public line as a general buy signal.
- Its inputs are a calculation period and overbought and oversold levels.
- No parameter values, performance tests, or risk rules are supplied.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.