Studies · Momentum
Pretty Good Oscillator (PGO)
prettyGoodOscillator · Johnson's PGO — distance from the SMA in average true ranges
Drawn in its own panelReads high, low, closeGuide lines at 0
Hover the chart to read values · practice data: a seeded random walk with no overnight gaps
What it measures
How far the close is from its simple moving average, measured in average daily ranges (an EMA of true range). +2.5 means the close is two and a half typical days’ range above its average.
How traders use it
- Johnson's rule: go long when it rises above +3, short when it falls below −3, and exit when it comes back to zero (price back at its average).
- Because it is measured in ranges, the same number means the same thing across instruments and volatility regimes.
Parameters
| Name | Value | Default | Allowed | What it does |
|---|---|---|---|---|
| period | 14 | ≥ 1 usual 5–50 | Length of both the simple moving average and the true-range average. |